Swiss National Bank lessened its position in shares of Fluor Co. (NYSE:FLR – Get Rating) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 333,200 shares of the construction company’s stock after selling 1,200 shares during the period. Swiss National Bank owned approximately 0.23% of Fluor worth $8,110,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Fluor by 91.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,403 shares of the construction company’s stock worth $34,000 after purchasing an additional 671 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Fluor in the 2nd quarter valued at approximately $61,000. SeaCrest Wealth Management LLC acquired a new position in Fluor in the 2nd quarter valued at approximately $92,000. Convergence Investment Partners LLC acquired a new position in Fluor in the 2nd quarter valued at approximately $115,000. Finally, Point72 Hong Kong Ltd increased its position in Fluor by 596.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 6,698 shares of the construction company’s stock valued at $192,000 after acquiring an additional 5,736 shares during the period. Institutional investors own 93.29% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on FLR shares. DA Davidson upgraded shares of Fluor from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.00 to $40.00 in a research report on Monday, November 7th. Citigroup increased their price objective on shares of Fluor from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, November 7th. Credit Suisse Group increased their price objective on shares of Fluor from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Monday, November 7th. Bank of America increased their price objective on shares of Fluor from $28.00 to $33.00 in a research report on Sunday, November 6th. Finally, StockNews.com assumed coverage on shares of Fluor in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fluor presently has a consensus rating of “Hold” and a consensus target price of $34.00.
Fluor Stock Down 0.1 %
Fluor (NYSE:FLR – Get Rating) last issued its earnings results on Friday, November 4th. The construction company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.35). The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.54 billion. Fluor had a positive return on equity of 7.74% and a negative net margin of 0.19%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, sell-side analysts forecast that Fluor Co. will post 0.99 earnings per share for the current fiscal year.
Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. The Energy Solutions provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.
- Get a free copy of the StockNews.com research report on Fluor (FLR)
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