Rhumbline Advisers Increases Stake in Fluor Co. (NYSE:FLR)

Rhumbline Advisers raised its holdings in shares of Fluor Co. (NYSE:FLR – Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,573 shares of the construction company’s stock after buying an additional 4,939 shares during the period. Rhumbline Advisers owned about 0.33% of Fluor worth $14,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLR. Raymond James Financial Services Advisors Inc. increased its holdings in 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 buying an additional 38,945 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Fluor by 4.6% during the first 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 during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Fluor by 12.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,178 shares of the construction company’s stock worth $1,841,000 after purchasing an additional 7,274 shares in the last quarter. BlackRock Inc. increased its stake in shares of 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 purchasing an additional 571,316 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased 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 purchasing an additional 8,088 shares in the last quarter. 99.20% of the stock is owned by hedge funds and other institutional investors.

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Fluor Stock Performance

FLR opened at $34.99 on Friday. Fluor Co. has a fifty-two week low of $23.37 and a fifty-two week high of $38.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 1.53. The company has a fifty day moving average of $31.67 and a 200 day moving average of $30.93. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -87.48 and a beta of 2.28.

Fluor (NYSE:FLR – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The construction company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.43 by $0.33. Fluor had a negative net margin of 0.10% and a positive return on equity of 15.03%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the business earned $0.13 earnings per share. Fluor’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Fluor Co. will post 2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLR has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Fluor in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Credit Suisse Group increased their price objective on shares of Fluor from $32.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. TheStreet raised shares of Fluor from a “c” rating to a “b” rating in a research note on Friday, August 11th. Citigroup raised their target price on shares of Fluor from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Finally, Robert W. Baird raised their target price on shares of Fluor from $40.00 to $43.00 in a research note on Monday, August 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fluor presently has a consensus rating of “Hold” and an average target price of $37.14.

Check Out Our Latest Stock Report on Fluor

Fluor Company Profile

(Free Report)

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. 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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