152,152 Shares in Fluor Co. (NYSE:FLR) Acquired by Covalis Capital LLP

Covalis Capital LLP bought a new position in Fluor Co. (NYSE:FLR) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 152,152 shares of the construction company’s stock, valued at approximately $7,504,000. Covalis Capital LLP owned approximately 0.09% of Fluor as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC acquired a new position in Fluor during the fourth quarter worth $484,000. Quantbot Technologies LP acquired a new stake in shares of Fluor in the 4th quarter valued at about $3,667,000. Exchange Traded Concepts LLC grew its holdings in shares of Fluor by 291.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock worth $2,151,000 after buying an additional 32,472 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in Fluor in the 4th quarter valued at about $1,131,000. Finally, LPL Financial LLC grew its holdings in shares of Fluor by 19.3% during the fourth quarter. LPL Financial LLC now owns 118,652 shares of the construction company’s stock worth $5,852,000 after buying an additional 19,161 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Trading Up 1.3 %

Shares of FLR stock opened at $33.99 on Friday. Fluor Co. has a 1-year low of $29.20 and a 1-year high of $60.10. The business has a 50-day moving average of $36.62 and a 200 day moving average of $46.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The stock has a market capitalization of $5.71 billion, a PE ratio of 2.79, a P/E/G ratio of 1.36 and a beta of 1.66.

Fluor (NYSE:FLR) last announced 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 net margin of 13.14% and a return on equity of 15.14%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. As a group, sell-side analysts anticipate that Fluor Co. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FLR shares. Robert W. Baird dropped their price objective on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. DA Davidson lowered their target price on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Truist Financial dropped their price target on shares of Fluor from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Citigroup lowered their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, KeyCorp dropped their target price on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.43.

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.