Concentric Capital Strategies LP Takes $1.15 Million Position in Fluor Co. (NYSE:FLR)

Concentric Capital Strategies LP acquired a new position in shares of Fluor Co. (NYSE:FLR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,230 shares of the construction company's stock, valued at approximately $1,146,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alyeska Investment Group L.P. boosted its stake in shares of Fluor by 329.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock valued at $97,954,000 after purchasing an additional 1,523,647 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Fluor by 10,125.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock valued at $52,129,000 after buying an additional 1,046,610 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Fluor by 58.4% during the fourth quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock worth $96,285,000 after purchasing an additional 719,583 shares in the last quarter. Yaupon Capital Management LP purchased a new stake in Fluor in the fourth quarter valued at approximately $26,353,000. Finally, Clearbridge Investments LLC purchased a new position in Fluor during the 4th quarter worth $25,056,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FLR shares. Citigroup cut their price target on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Barclays set a $40.00 price target on Fluor and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Robert W. Baird set a $41.00 price objective on shares of Fluor in a research note on Monday. DA Davidson decreased their price target on Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Finally, UBS Group dropped their price objective on Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.43.

Fluor Trading Down 0.7 %

NYSE FLR opened at $34.85 on Thursday. Fluor Co. has a 52 week low of $29.20 and a 52 week high of $60.10. The stock has a market cap of $5.86 billion, a P/E ratio of 2.86, a PEG ratio of 1.36 and a beta of 1.24. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The company's fifty day simple moving average is $35.26 and its 200-day simple moving average is $45.11.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results 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 business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts predict that Fluor Co. will post 2.5 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.

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