Balyasny Asset Management L.P. Increases Holdings in Fluor Co. (NYSE:FLR)

Balyasny Asset Management L.P. raised its position in Fluor Co. (NYSE:FLR - Free Report) by 10,125.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,056,946 shares of the construction company's stock after purchasing an additional 1,046,610 shares during the period. Balyasny Asset Management L.P. owned approximately 0.62% of Fluor worth $52,129,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Fluor by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company's stock worth $872,871,000 after buying an additional 168,822 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Fluor by 3.6% in the 4th quarter. Alliancebernstein L.P. now owns 3,093,998 shares of the construction company's stock valued at $152,596,000 after buying an additional 107,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Fluor by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company's stock worth $124,087,000 after acquiring an additional 25,528 shares during the period. Northern Trust Corp increased its stake in Fluor by 12.9% in the fourth quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company's stock valued at $117,971,000 after acquiring an additional 273,156 shares during the last quarter. Finally, 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 valued at $97,954,000 after purchasing an additional 1,523,647 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

Shares of Fluor stock traded up $0.23 during midday trading on Friday, hitting $35.84. The company had a trading volume of 2,521,294 shares, compared to its average volume of 2,248,346. Fluor Co. has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 2.94, a PEG ratio of 1.36 and a beta of 1.24. The company has a fifty day simple moving average of $35.23 and a 200 day simple moving average of $44.81.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the business posted $0.47 earnings per share. Fluor's quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts predict that Fluor Co. will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLR has been the topic of several research analyst reports. KeyCorp reduced their price objective on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Barclays set a $40.00 price target on shares of Fluor and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Robert W. Baird set a $41.00 price objective on Fluor in a research report on Monday, May 5th. UBS Group dropped their price target on Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.