Delta Global Management LP acquired a new stake in Fluor Corporation (NYSE:FLR – Free Report) during the 1st quarter, Holdings Channel reports. The firm acquired 52,665 shares of the construction company’s stock, valued at approximately $2,457,000.
Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP purchased a new position in Fluor in the 1st quarter worth approximately $1,330,000. Renaissance Technologies LLC purchased a new stake in Fluor during the 1st quarter valued at approximately $8,859,000. Public Employees Retirement System of Ohio raised its position in shares of Fluor by 524.8% during the first quarter. Public Employees Retirement System of Ohio now owns 23,430 shares of the construction company’s stock valued at $1,093,000 after buying an additional 19,680 shares during the last quarter. Cloverfields Capital Group LP raised its position in shares of Fluor by 20.8% during the first quarter. Cloverfields Capital Group LP now owns 26,155 shares of the construction company’s stock valued at $1,220,000 after buying an additional 4,500 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new position in shares of Fluor in the first quarter worth $1,004,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on FLR. Robert W. Baird raised their target price on shares of Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Citigroup decreased their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial lifted their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Zacks Research downgraded Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.20.
Fluor Stock Performance
Shares of Fluor stock opened at $52.16 on Friday. Fluor Corporation has a 12 month low of $37.62 and a 12 month high of $57.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36. The firm has a market cap of $7.28 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.65 and a beta of 1.23. The stock’s fifty day moving average price is $49.69 and its 200-day moving average price is $48.05.
Fluor (NYSE:FLR – Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.Fluor’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. On average, equities research analysts expect that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.
Fluor Company Profile
Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.
Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.
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