Potrero Capital Research LLC Invests $14.12 Million in Fluor Co. (NYSE:FLR)

Potrero Capital Research LLC bought a new position in shares of Fluor Co. (NYSE:FLR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 286,192 shares of the construction company's stock, valued at approximately $14,115,000. Fluor accounts for 4.7% of Potrero Capital Research LLC's investment portfolio, making the stock its 8th largest holding. Potrero Capital Research LLC owned about 0.17% of Fluor at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its position in Fluor by 329.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after acquiring an additional 1,523,647 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Fluor by 10,125.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock worth $52,129,000 after purchasing an additional 1,046,610 shares during the period. Hood River Capital Management LLC lifted its stake in Fluor by 58.4% in the fourth quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock valued at $96,285,000 after purchasing an additional 719,583 shares during the last quarter. Yaupon Capital Management LP bought a new position in Fluor during the fourth quarter valued at $26,353,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in Fluor in the fourth quarter worth $25,117,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FLR has been the subject of several recent research reports. UBS Group decreased their price objective on Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. KeyCorp reduced their target price on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. Robert W. Baird set a $41.00 price target on shares of Fluor in a research note on Monday, May 5th. Citigroup reduced their price objective on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Truist Financial increased their target price on Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.43.

Fluor Price Performance

NYSE:FLR traded up $0.85 during trading hours on Tuesday, hitting $38.75. The stock had a trading volume of 532,833 shares, compared to its average volume of 2,274,046. The company has a 50 day simple moving average of $35.53 and a two-hundred day simple moving average of $44.15. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 3.18, a P/E/G ratio of 1.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. Fluor Co. has a one year low of $29.20 and a one year high of $60.10.

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

About Fluor

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.