M&T Bank Corp Acquires New Shares in Fluor Co. (NYSE:FLR)

M&T Bank Corp bought a new stake in shares of Fluor Co. (NYSE:FLR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,271 shares of the construction company's stock, valued at approximately $408,000.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in shares of Fluor by 2,509.5% during the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock worth $27,000 after purchasing an additional 527 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Fluor in the fourth quarter worth approximately $33,000. Smartleaf Asset Management LLC boosted its stake in Fluor by 43.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock worth $47,000 after buying an additional 287 shares in the last quarter. Quarry LP boosted its stake in Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company's stock worth $63,000 after buying an additional 942 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Fluor by 826.2% in the fourth quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company's stock worth $77,000 after buying an additional 1,388 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Wall Street Analyst Weigh In

FLR has been the subject of several recent research reports. StockNews.com downgraded Fluor from a "buy" rating to a "hold" rating in a research report on Sunday, March 9th. Truist Financial lowered their price objective on Fluor from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. Robert W. Baird lowered their price objective on Fluor from $58.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Baird R W downgraded Fluor from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Citigroup decreased their target price on Fluor from $60.00 to $59.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Fluor has a consensus rating of "Moderate Buy" and an average target price of $54.71.

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Fluor Stock Up 5.4 %

FLR stock traded up $1.90 during midday trading on Friday, hitting $36.84. The stock had a trading volume of 2,861,363 shares, compared to its average volume of 3,304,636. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 3.02, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. The business has a 50-day moving average of $44.41 and a two-hundred day moving average of $48.75. Fluor Co. has a 52-week low of $34.01 and a 52-week high of $60.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share 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 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 Company 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.