Covalis Capital LLP Makes New Investment in Fluor Co. (NYSE:FLR)

Covalis Capital LLP acquired a new position in shares of Fluor Co. (NYSE:FLR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 152,152 shares of the construction company's stock, valued at approximately $7,504,000. Covalis Capital LLP owned 0.09% of Fluor at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock valued at $27,000 after purchasing an additional 527 shares in the last quarter. Sterling Capital Management LLC lifted its position in Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after acquiring an additional 408 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Fluor during the fourth quarter worth about $33,000. Smartleaf Asset Management LLC raised its position in Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after purchasing an additional 287 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Fluor during the 4th quarter worth $57,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays set a $40.00 price target on Fluor and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Citigroup lowered their price objective on shares of Fluor from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Truist Financial reduced their target price on shares of Fluor from $60.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird lowered their price objective on Fluor from $46.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, KeyCorp decreased their price objective on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.43.

Fluor Stock Up 3.2 %

Shares of NYSE FLR traded up $1.11 on Thursday, hitting $35.55. The company had a trading volume of 1,636,833 shares, compared to its average volume of 3,034,119. The firm has a market capitalization of $5.97 billion, a P/E ratio of 2.92, a PEG ratio of 1.36 and a beta of 1.66. Fluor Co. has a 12-month low of $29.20 and a 12-month high of $60.10. The business has a 50 day moving average of $35.96 and a two-hundred day moving average of $46.26. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The firm had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $4.42 billion. As a group, equities research analysts forecast that Fluor Co. will post 2.5 earnings per share for the current fiscal year.

Fluor Profile

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.