Comerica Bank Has $9.71 Million Stock Holdings in Fluor Co. (NYSE:FLR)

Comerica Bank increased its position in Fluor Co. (NYSE:FLR - Free Report) by 55.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 196,775 shares of the construction company's stock after buying an additional 70,509 shares during the period. Comerica Bank owned 0.11% of Fluor worth $9,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLR. Versant Capital Management Inc increased its stake in shares of Fluor by 2,509.5% during the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock worth $27,000 after purchasing an additional 527 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after buying an additional 408 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Fluor during the 4th quarter valued at about $33,000. Smartleaf Asset Management LLC raised its stake in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after acquiring an additional 287 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Fluor during the fourth quarter worth approximately $57,000. Institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

Shares of NYSE:FLR traded up $0.82 during trading on Tuesday, hitting $35.24. 2,829,123 shares of the stock were exchanged, compared to its average volume of 2,225,944. The company's fifty day simple moving average is $35.36 and its 200-day simple moving average is $45.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 2.89, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24. Fluor Co. has a 1-year low of $29.20 and a 1-year high of $60.10.

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

Analysts Set New Price Targets

Several research firms recently issued reports on FLR. UBS Group decreased their price objective on shares of Fluor from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. KeyCorp lowered their price target on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. Robert W. Baird set a $41.00 price objective on Fluor in a research report on Monday. StockNews.com lowered Fluor from a "buy" rating to a "hold" rating in a report on Monday. Finally, DA Davidson cut their price target on Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.57.

Fluor Company 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.