Raymond James Financial Inc. Buys New Stake in Fluor Co. (NYSE:FLR)

Raymond James Financial Inc. purchased a new stake in Fluor Co. (NYSE:FLR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 266,222 shares of the construction company's stock, valued at approximately $13,130,000. Raymond James Financial Inc. owned approximately 0.16% of Fluor as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company's stock valued at $190,953,000 after acquiring an additional 51,018 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fluor by 27.9% in the 3rd 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 in the last quarter. Artemis Investment Management LLP lifted its position in shares of Fluor by 49.1% in the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company's stock valued at $61,792,000 after acquiring an additional 412,312 shares in the last quarter. Hennessy Advisors Inc. increased its stake in Fluor by 13.1% in the 4th quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company's stock valued at $51,322,000 after buying an additional 120,800 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Fluor by 24.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 973,753 shares of the construction company's stock valued at $46,458,000 after buying an additional 193,071 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

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Fluor Stock Up 0.1 %

Shares of FLR traded up $0.05 during mid-day trading on Friday, hitting $37.72. 5,006,253 shares of the company's stock were exchanged, compared to its average volume of 1,992,010. The firm has a fifty day moving average of $43.19 and a two-hundred day moving average of $48.34. Fluor Co. has a twelve month low of $34.01 and a twelve month high of $60.10. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 3.09, a P/E/G 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 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 business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. On average, sell-side analysts forecast that Fluor Co. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of Fluor from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Citigroup dropped their price objective on shares of Fluor from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird dropped their price objective on shares of Fluor from $58.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Baird R W lowered shares of Fluor from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Fluor from a "hold" rating to a "buy" rating in a research note on Monday, March 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.