In recent months Fluor Corp.'s two largest shareholders, Sanford C. Bernstein & Co. and INVESCO Capital Management L.P., have increased their combined ownership in the Irvine construction and minerals company to more than 15%.
Since June, Sanford C. Bernstein & Co., a New York investment management firm, has purchased 1.7 million shares in Fluor for its clients, increasing their ownership stake to a total of 7.6 million shares, or 9.5%.
During that time, Atlanta-based INVESCO Capital Management, another investment management company, bought 234,000 shares in Fluor for its clients, bringing its total holdings of Fluor common to 4.384 million shares, or 5.51% of the company's outstanding stock.
Neither of the companies would comment on their purchases.
In trading on the New York Stock Exchange Monday, Fluor closed at $14.25 a share, down 25 cents for the day. During the past 12 months, Fluor shares have traded as high as $19.25 a share and as low as $11.125