US Bancorp DE Cuts Stock Holdings in Fluor Co. (NYSE:FLR)

US Bancorp DE decreased its stake in shares of Fluor Co. (NYSE:FLR – Get Rating) by 11.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 17,855 shares of the construction company’s stock after selling 2,260 shares during the period. US Bancorp DE’s holdings in Fluor were worth $445,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in Fluor by 70.9% during the third quarter. Allworth Financial LP now owns 1,080 shares of the construction company’s stock worth $27,000 after acquiring an additional 448 shares during the period. Meeder Asset Management Inc. lifted its holdings in Fluor by 91.7% during the second quarter. Meeder Asset Management Inc. now owns 1,403 shares of the construction company’s stock worth $34,000 after acquiring an additional 671 shares during the period. Atlas Capital Advisors LLC lifted its holdings in Fluor by 665.0% during the second quarter. Atlas Capital Advisors LLC now owns 1,836 shares of the construction company’s stock worth $45,000 after acquiring an additional 1,596 shares during the period. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in Fluor during the second quarter worth $61,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Fluor during the third quarter worth $77,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on FLR shares. Credit Suisse Group lifted their price target on Fluor from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, November 7th. UBS Group boosted their target price on Fluor from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, November 29th. Robert W. Baird boosted their target price on Fluor from $32.00 to $38.00 in a research note on Monday, November 14th. Bank of America boosted their target price on Fluor from $28.00 to $33.00 in a research note on Sunday, November 6th. Finally, DA Davidson upgraded Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $25.00 to $40.00 in a research note on Monday, November 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.29.

Fluor Price Performance

Shares of NYSE FLR opened at $36.10 on Monday. The stock has a market cap of $5.13 billion, a PE ratio of -76.81, a price-to-earnings-growth ratio of 0.80 and a beta of 2.33. Fluor Co. has a fifty-two week low of $19.80 and a fifty-two week high of $36.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a fifty day moving average of $34.27 and a 200-day moving average of $29.47.

Fluor (NYSE:FLR – Get Rating) last announced its quarterly earnings results on Friday, November 4th. The construction company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.41). The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Fluor had a negative net margin of 0.19% and a positive return on equity of 7.74%. Fluor’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Fluor Co. will post 0.87 earnings per share for the current year.

About Fluor

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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.