Is Fluor Corporation (NEW) (NYSE:FLR) a buy?
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Thus, it’s important to examine the recent info about Fluor Corporation (NEW) (NYSE:FLR).
Hedge fund activity in Fluor Corporation (NEW) (NYSE:FLR)
At Q2’s end, a total of 34 of the hedge funds we track were bullish in this stock, a change of 6% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their holdings significantly.
When using filings from the hedgies we track, Appaloosa Management LP, managed by David Tepper, holds the largest position in Fluor Corporation (NEW) (NYSE:FLR). Appaloosa Management LP has a $88.4 million position in the stock, comprising 1.3% of its 13F portfolio. The second largest stake is held by Robert Bishop of Impala Asset Management, with a $47.6 million position; 2.7% of its 13F portfolio is allocated to the stock. Remaining hedgies that hold long positions include Daniel Bubis’s Tetrem Capital Management, William Harnisch’s Peconic Partners LLC and Alan Fournier’s Pennant Capital Management.
As industrywide interest increased, specific money managers have jumped into Fluor Corporation (NEW) (NYSE:FLR) headfirst. Appaloosa Management LP, managed by David Tepper, assembled the most outsized position in Fluor Corporation (NEW) (NYSE:FLR). Appaloosa Management LP had 88.4 million invested in the company at the end of the quarter. Robert Bishop’s Impala Asset Management also made a $47.6 million investment in the stock during the quarter. The other funds with brand new FLR positions are Daniel Bubis’s Tetrem Capital Management, William Harnisch’s Peconic Partners LLC, and Alan Fournier’s Pennant Capital Management.
How have insiders been trading Fluor Corporation (NEW) (NYSE:FLR)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past six months. Over the latest half-year time period, Fluor Corporation (NEW) (NYSE:FLR) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Fluor Corporation (NEW) (NYSE:FLR). These stocks are Granite Construction Inc. (NYSE:GVA), Empresas ICA SA (ADR) (NYSE:ICA), MasTec, Inc. (NYSE:MTZ), Foster Wheeler AG (NASDAQ:FWLT), and McDermott International (NYSE:MDR). This group of stocks are the members of the heavy construction industry and their market caps are closest to FLR’s market cap.