Fluor Co. (NYSE:FLR) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Fluor Co. (NYSE:FLR) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,386 shares of the construction company’s stock after purchasing an additional 34,375 shares during the quarter. Retirement Systems of Alabama’s holdings in Fluor were worth $8,358,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Insight Wealth Strategies LLC purchased a new position in shares of Fluor in the fourth quarter valued at $1,020,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Fluor by 385.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock valued at $6,934,000 after acquiring an additional 149,990 shares during the period. New York State Common Retirement Fund grew its position in Fluor by 36.7% during the third quarter. New York State Common Retirement Fund now owns 143,359 shares of the construction company’s stock valued at $5,261,000 after acquiring an additional 38,496 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Fluor by 33.9% in the 3rd quarter. Hsbc Holdings PLC now owns 234,376 shares of the construction company’s stock worth $8,579,000 after purchasing an additional 59,283 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Fluor by 13.1% in the 3rd quarter. Deutsche Bank AG now owns 84,608 shares of the construction company’s stock valued at $3,105,000 after purchasing an additional 9,797 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the topic of several research reports. TheStreet lowered shares of Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. KeyCorp started coverage on shares of Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Citigroup increased their price target on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $46.00 target price on shares of Fluor in a research report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fluor currently has a consensus rating of “Hold” and a consensus price target of $43.17.

Fluor Stock Performance

NYSE:FLR opened at $38.90 on Friday. The firm has a 50-day moving average of $39.70 and a two-hundred day moving average of $38.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market cap of $6.62 billion, a P/E ratio of 69.46, a PEG ratio of 3.20 and a beta of 2.11. Fluor Co. has a 1-year low of $25.69 and a 1-year high of $43.24.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the prior year, the business posted $0.43 earnings per share. Fluor’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts expect that Fluor Co. will post 2.84 earnings per share for the current fiscal year.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment 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.