Ieq Capital LLC Takes Position in Fluor Co. (NYSE:FLR)

Ieq Capital LLC acquired a new stake in shares of Fluor Co. (NYSE:FLR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,160 shares of the construction company's stock, valued at approximately $353,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cornerstone Wealth Management LLC bought a new position in shares of Fluor during the 4th quarter valued at about $484,000. Exchange Traded Concepts LLC grew its position in Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company's stock worth $2,151,000 after acquiring an additional 32,472 shares during the last quarter. Aequim Alternative Investments LP lifted its position in Fluor by 6.0% in the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company's stock valued at $35,437,000 after purchasing an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company's stock valued at $819,000 after purchasing an additional 9,992 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $100,092,000 after purchasing an additional 457,220 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Fluor from $60.00 to $59.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Barclays set a $40.00 price target on Fluor and gave the company an "equal weight" rating in a research report on Thursday. Truist Financial reduced their target price on Fluor from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. KeyCorp lifted 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. Finally, StockNews.com upgraded shares of Fluor from a "hold" rating to a "buy" rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Fluor has an average rating of "Moderate Buy" and a consensus price target of $54.71.

Insider Activity

In related news, insider Thomas P. D'agostino sold 7,681 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares of the company's stock, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company's stock.

Fluor Stock Performance

FLR traded down $1.16 during midday trading on Monday, hitting $36.87. 2,820,710 shares of the company traded hands, compared to its average volume of 3,223,568. The company's 50-day moving average is $47.23 and its 200 day moving average is $49.67. Fluor Co. has a 52 week low of $36.00 and a 52 week high of $60.10. The firm has a market capitalization of $6.22 billion, a PE ratio of 3.02, a price-to-earnings-growth ratio of 1.36 and a beta of 1.89. 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 issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 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 during the quarter, compared to the consensus estimate of $4.42 billion. On average, research analysts expect that Fluor Co. will post 2.5 EPS for the current 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.