Ameriprise Financial Inc. Lowers Stock Position in Fluor Co. (NYSE:FLR)

Ameriprise Financial Inc. cut its stake in shares of Fluor Co. (NYSE:FLR - Free Report) by 11.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 537,676 shares of the construction company's stock after selling 69,295 shares during the period. Ameriprise Financial Inc. owned about 0.31% of Fluor worth $26,515,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new position in Fluor during the fourth quarter worth $1,060,000. Alyeska Investment Group L.P. raised its position in Fluor by 329.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after acquiring an additional 1,523,647 shares during the period. Aequim Alternative Investments LP raised its position in Fluor by 9.5% during the fourth quarter. Aequim Alternative Investments LP now owns 813,350 shares of the construction company's stock worth $40,114,000 after acquiring an additional 70,590 shares during the period. Westerly Capital Management LLC raised its position in Fluor by 1,600.0% during the fourth quarter. Westerly Capital Management LLC now owns 170,000 shares of the construction company's stock worth $8,384,000 after acquiring an additional 160,000 shares during the period. Finally, Comerica Bank raised its position in Fluor by 55.8% during the fourth quarter. Comerica Bank now owns 196,775 shares of the construction company's stock worth $9,705,000 after acquiring an additional 70,509 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Trading Down 0.1%

Shares of FLR traded down $0.05 during mid-day trading on Friday, reaching $38.48. The stock had a trading volume of 2,258,361 shares, compared to its average volume of 2,277,871. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. Fluor Co. has a 52-week low of $29.20 and a 52-week high of $60.10. The business's fifty day moving average is $35.48 and its 200 day moving average is $44.37. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 3.16, a P/E/G ratio of 1.36 and a beta of 1.24.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.23. Fluor had a net margin of 13.14% and a return on equity of 15.14%. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Fluor's quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Fluor Co. will post 2.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FLR. Robert W. Baird set a $41.00 target price on shares of Fluor in a research report on Monday, May 5th. Barclays set a $40.00 target price on shares of Fluor and gave the company an "equal weight" rating in a research report on Thursday, February 27th. UBS Group reduced their target price on shares of Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Citigroup reduced their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, StockNews.com cut shares of Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Fluor presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.

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.