Readystate Asset Management LP Purchases New Holdings in Fluor Corporation $FLR

Key Points

• Readystate Asset Management acquired 75,792 Fluor shares worth approximately $3.54 million in the first quarter, while institutional investors collectively own 88.07% of the company.
• Fluor shares opened at $49.37, down 4.5%, after the company reported first-quarter adjusted earnings of $0.14 per share—well below the $0.66 analyst consensus—and revenue fell 8% year over year to $3.66 billion.
• Analyst sentiment remains mixed: Fluor has an overall “Hold” consensus rating and a $57.20 average price target, with four Buy, two Hold, and one Sell rating.

Readystate Asset Management LP acquired a new position in Fluor Corporation (NYSE:FLR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 75,792 shares of the construction company's stock, valued at approximately $3,536,000. Readystate Asset Management LP owned about 0.05% of Fluor at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FLR. Global Retirement Partners LLC lifted its position 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 worth $26,000 after purchasing an additional 311 shares during the last quarter. Assetmark Inc. lifted its holdings in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company's stock valued at $27,000 after buying an additional 483 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Fluor in the 4th quarter worth about $27,000. Larson Financial Group LLC increased its position in shares of Fluor by 6,116.7% during the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock worth $31,000 after acquiring an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Fluor during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Down 4.5%

Shares of NYSE FLR opened at $49.37 on Wednesday. The stock has a market capitalization of $6.90 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.64 and a beta of 1.23. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36. Fluor Corporation has a 12-month low of $37.62 and a 12-month high of $57.50. The stock's fifty day simple moving average is $49.97 and its two-hundred day simple moving average is $48.16.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Citigroup lowered their target price on Fluor from $61.00 to $56.00 and set a "buy" rating for the company in a report on Monday, May 11th. Robert W. Baird increased their price target on Fluor from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Truist Financial lifted their price objective on Fluor from $57.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of Fluor from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently 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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