Vanguard Group Inc. Acquires 2,670,473 Shares of Fluor Co. (NYSE:FLR)

Vanguard Group Inc. increased its holdings in Fluor Co. (NYSE:FLR) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,060,956 shares of the construction company’s stock after buying an additional 2,670,473 shares during the period. Vanguard Group Inc. owned 10.01% of Fluor worth $668,278,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FLR. Insight Wealth Strategies LLC bought a new position in shares of Fluor in the fourth quarter worth $1,020,000. Principal Financial Group Inc. grew its holdings in Fluor by 18.5% during the 4th quarter. Principal Financial Group Inc. now owns 631,381 shares of the construction company’s stock valued at $24,731,000 after buying an additional 98,381 shares in the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Fluor in the fourth quarter worth about $5,123,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Fluor by 385.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock valued at $6,934,000 after acquiring an additional 149,990 shares in the last quarter. Finally, Sona Asset Management US LLC bought a new stake in Fluor during the 4th quarter worth approximately $3,521,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FLR shares. Citigroup upped their price target on shares of Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Truist Financial restated a “buy” rating and issued a $47.00 target price (up from $46.00) on shares of Fluor in a research note on Monday, May 6th. Finally, Robert W. Baird boosted their price objective on Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.00.

Fluor Stock Performance

Shares of NYSE FLR opened at $45.02 on Monday. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.43 and a beta of 2.03. The stock’s 50-day moving average is $41.41 and its 200 day moving average is $39.83. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.56. Fluor Co. has a 1-year low of $27.95 and a 1-year high of $45.75.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.07). Fluor had a return on equity of 24.98% and a net margin of 1.97%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the business posted $0.28 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluor Co. will post 2.86 EPS for the current fiscal year.

About Fluor

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.