Price T Rowe Associates Inc. MD Raises Position in Fluor Co. (NYSE:FLR)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Fluor Co. (NYSE:FLR - Free Report) by 232.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,671 shares of the construction company's stock after purchasing an additional 271,194 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.23% of Fluor worth $19,121,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Virtu Financial LLC bought a new position in Fluor during the 3rd quarter worth about $598,000. Wilmington Savings Fund Society FSB acquired a new stake in Fluor in the third quarter worth about $96,000. Cim Investment Management Inc. acquired a new position in shares of Fluor during the third quarter valued at about $391,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Fluor in the 3rd quarter valued at approximately $215,000. Finally, Principal Financial Group Inc. increased its stake in Fluor by 42.1% during the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company's stock valued at $41,077,000 after purchasing an additional 254,904 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLR shares. Robert W. Baird set a $41.00 price target on Fluor in a report on Monday. Barclays set a $40.00 price objective on Fluor and gave the stock an "equal weight" rating in a report on Thursday, February 27th. KeyCorp decreased their price objective on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. Truist Financial raised their target price on shares of Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday. Finally, UBS Group dropped their price objective on shares of Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.43.

Fluor Stock Down 0.8 %

FLR stock traded down $0.27 during midday trading on Wednesday, reaching $34.84. 286,291 shares of the company were exchanged, compared to its average volume of 2,220,611. The stock's 50-day simple moving average is $35.32 and its 200 day simple moving average is $45.19. Fluor Co. has a 1-year low of $29.20 and a 1-year high of $60.10. 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 cap of $5.85 billion, a price-to-earnings ratio of 2.85, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24.

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

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.