Fifth Third Bancorp Has $4.23 Million Holdings in Fluor Corporation $FLR

Key Points

• Fifth Third Bancorp sharply increased its Fluor stake in the first quarter, boosting holdings by 4,900.8% to 90,714 shares valued at about $4.23 million.
• Fluor’s latest earnings came in well below expectations, with EPS of $0.14 versus the $0.66 consensus and revenue of $3.66 billion, down 8% year over year.
• Analyst sentiment is mixed: the stock currently has a Hold consensus rating with an average price target of $57.20, though individual firms range from strong sell to buy.

Fifth Third Bancorp raised its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 4,900.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,714 shares of the construction company's stock after buying an additional 88,900 shares during the quarter. Fifth Third Bancorp owned 0.06% of Fluor worth $4,232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in shares of Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company's stock valued at $26,000 after acquiring an additional 311 shares during the period. Assetmark Inc. boosted its stake in Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company's stock worth $27,000 after purchasing an additional 483 shares during the period. Los Angeles Capital Management LLC purchased a new position in Fluor during the 4th quarter worth approximately $27,000. Larson Financial Group LLC raised its stake in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock valued at $31,000 after purchasing an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Fluor in the fourth quarter valued at $35,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Price Performance

Shares of FLR opened at $49.18 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $6.87 billion, a PE ratio of 28.59, a PEG ratio of 1.55 and a beta of 1.23. The firm's 50 day moving average price is $49.00 and its 200 day moving average price is $47.66. Fluor Corporation has a twelve month low of $37.62 and a twelve month high of $57.50.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.52). The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business's revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, research analysts expect that Fluor Corporation will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on FLR shares. Robert W. Baird raised their target price on Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Weiss Ratings raised Fluor from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Zacks Research downgraded Fluor from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Truist Financial lifted their target price on Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Citigroup dropped their target price on Fluor from $61.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $57.20.

Fluor Profile

Fluor Corporation NYSE: FLR is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company's core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor's diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.

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