M&T Bank Corp bought a new position in Fluor Co. (NYSE:FLR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,271 shares of the construction company's stock, valued at approximately $408,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new stake in Fluor in the 4th quarter worth approximately $484,000. Exchange Traded Concepts LLC lifted its holdings in Fluor by 291.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company's stock worth $2,151,000 after purchasing an additional 32,472 shares during the last quarter. Aequim Alternative Investments LP lifted its holdings in shares of Fluor by 6.0% during the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company's stock worth $35,437,000 after buying an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings 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 worth $819,000 after buying an additional 9,992 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Fluor by 27.9% during 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 buying an additional 457,220 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.
Fluor Price Performance
NYSE:FLR traded up $1.90 during trading hours on Friday, reaching $36.84. The company had a trading volume of 2,861,363 shares, compared to its average volume of 3,304,636. The stock has a 50-day moving average of $44.41 and a two-hundred day moving average of $48.76. Fluor Co. has a one year low of $34.01 and a one year high of $60.10. The firm has a market capitalization of $6.22 billion, a PE ratio of 3.02, a PEG ratio of 1.36 and a beta of 1.73. 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 announced 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). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Analysts forecast that Fluor Co. will post 2.5 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently commented on FLR. Citigroup cut their price target on 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 stock an "equal weight" rating in a report on Thursday, February 27th. KeyCorp upped their target price on Fluor from $59.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Robert W. Baird cut their target price on Fluor from $58.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Finally, Baird R W lowered Fluor from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Fluor has an average rating of "Moderate Buy" and an average price target of $54.71.
Read Our Latest Analysis on Fluor
Fluor Profile
(
Free Report)
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.
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