Pinebridge Investments L.P. Boosts Stock Holdings in Fluor Co. (NYSE:FLR)

Pinebridge Investments L.P. boosted its holdings in shares of Fluor Co. (NYSE:FLR - Free Report) by 42.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,036 shares of the construction company's stock after acquiring an additional 12,581 shares during the quarter. Pinebridge Investments L.P.'s holdings in Fluor were worth $2,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLR. Yaupon Capital Management LP bought a new position in Fluor during the 4th quarter worth $26,353,000. Clearbridge Investments LLC bought a new position in shares of Fluor during the fourth quarter worth about $25,056,000. Cookson Peirce & Co. Inc. acquired a new position in shares of Fluor in the fourth quarter worth approximately $24,849,000. Artemis Investment Management LLP boosted its holdings in Fluor by 49.1% in the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company's stock valued at $61,792,000 after acquiring an additional 412,312 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Fluor by 232.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,671 shares of the construction company's stock worth $19,121,000 after purchasing an additional 271,194 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of analyst reports. UBS Group lowered their target price on shares of Fluor from $57.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. StockNews.com upgraded Fluor from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Barclays set a $40.00 price target on Fluor and gave the company an "equal weight" rating in a research note on Thursday, February 27th. KeyCorp reduced their price objective on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. Finally, Citigroup dropped their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Fluor presently has a consensus rating of "Moderate Buy" and an average price target of $45.57.

Fluor Stock Up 2.5 %

NYSE:FLR traded up $0.88 during trading hours on Thursday, hitting $35.77. 3,785,906 shares of the company traded hands, compared to its average volume of 2,210,496. 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 firm's 50-day simple moving average is $35.47 and its 200-day simple moving average is $45.73. Fluor Co. has a one year low of $29.20 and a one year high of $60.10. The company has a market cap of $6.01 billion, a PE ratio of 2.93, a PEG ratio of 1.36 and a beta of 1.66.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Equities analysts predict 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.