Ergoteles LLC Makes New Investment in Fluor Co. (NYSE:FLR)

Posted by on Feb 27th, 2023

Ergoteles LLC bought a new stake in shares of Fluor Co. (NYSE:FLR – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,888 shares of the construction company’s stock, valued at approximately $943,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Fluor by 202.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 58,220 shares of the construction company’s stock valued at $1,670,000 after purchasing an additional 38,945 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Fluor by 4.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,343 shares of the construction company’s stock valued at $268,000 after buying an additional 414 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Fluor by 12.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,178 shares of the construction company’s stock valued at $1,841,000 after buying an additional 7,274 shares during the last quarter. BlackRock Inc. boosted its holdings in Fluor by 3.5% in the first quarter. BlackRock Inc. now owns 16,937,750 shares of the construction company’s stock worth $485,943,000 after acquiring an additional 571,316 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Fluor by 10.1% in the first quarter. Great West Life Assurance Co. Can now owns 88,356 shares of the construction company’s stock worth $2,616,000 after acquiring an additional 8,088 shares during the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Fluor Stock Performance

Shares of FLR opened at $35.76 on Monday. The firm has a market capitalization of $5.09 billion, a P/E ratio of 48.99, a PEG ratio of 0.83 and a beta of 2.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.55. Fluor Co. has a one year low of $20.75 and a one year high of $37.73. The business has a fifty day moving average of $35.45 and a 200 day moving average of $31.55.

Fluor (NYSE:FLR – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). Fluor had a net margin of 1.06% and a return on equity of 8.49%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fluor Co. will post 1.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Credit Suisse Group lifted their price target on Fluor from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Citigroup raised their price target on shares of Fluor from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 7th. UBS Group upped their price objective on Fluor from $26.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, November 29th. Robert W. Baird lifted their target price on Fluor from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Finally, Bank of America upped their price target on Fluor from $28.00 to $33.00 in a report on Sunday, November 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.29.

About Fluor

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Fluor Corp. operates as a holding company. The firm engages in the provision of engineering, procurement, construction, fabrication and modularization, operations, maintenance and asset integrity, as well as project management services, on a global basis. It operates through the following segments: Energy & Chemicals, Mining & Industrial, Infrastructure & Power, Diversified Services and Government.

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Institutional Ownership by Quarter for Fluor (NYSE:FLR)

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