Cibc World Markets Corp Invests $788,000 in Fluor Co. (NYSE:FLR)

Cibc World Markets Corp purchased a new position in Fluor Co. (NYSE:FLR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,980 shares of the construction company's stock, valued at approximately $788,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Fluor by 3.7% in the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company's stock worth $235,000 after acquiring an additional 176 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Fluor by 0.7% in the 3rd quarter. Natixis Advisors LLC now owns 64,777 shares of the construction company's stock valued at $3,091,000 after purchasing an additional 442 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Fluor by 5.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 77,531 shares of the construction company's stock valued at $3,699,000 after buying an additional 3,690 shares during the period. Intech Investment Management LLC increased its holdings in shares of Fluor by 192.1% during the 3rd quarter. Intech Investment Management LLC now owns 69,505 shares of the construction company's stock worth $3,316,000 after buying an additional 45,706 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company's stock valued at $100,092,000 after acquiring an additional 457,220 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

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Fluor Stock Down 2.6 %

Shares of NYSE:FLR traded down $1.02 during trading on Wednesday, hitting $37.72. The company's stock had a trading volume of 2,400,365 shares, compared to its average volume of 1,997,740. Fluor Co. has a fifty-two week low of $34.01 and a fifty-two week high of $60.10. The stock's 50-day moving average price is $42.81 and its two-hundred day moving average price is $48.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The company has a market capitalization of $6.34 billion, a PE ratio of 3.09, a PEG ratio of 1.36 and a beta of 1.73.

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 for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. As a group, sell-side analysts expect that Fluor Co. will post 2.5 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on FLR. DA Davidson cut their price objective on Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. KeyCorp raised their price target on shares of Fluor from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. StockNews.com upgraded shares of Fluor from a "hold" rating to a "buy" rating in a research note on Tuesday. Citigroup reduced their target price on shares of Fluor from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Barclays set a $40.00 price target on Fluor and gave the company an "equal weight" rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.71.

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.