State of Michigan Retirement System Has $1.77 Million Stock Holdings in Fluor Co. (NYSE:FLR)

State of Michigan Retirement System lifted its stake in Fluor Co. (NYSE:FLR) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,797 shares of the construction company’s stock after acquiring an additional 900 shares during the quarter. State of Michigan Retirement System’s holdings in Fluor were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FLR. Envestnet Asset Management Inc. increased its stake in shares of Fluor by 77.6% in the third quarter. Envestnet Asset Management Inc. now owns 123,640 shares of the construction company’s stock worth $4,538,000 after acquiring an additional 54,017 shares during the last quarter. Mariner LLC increased its position in Fluor by 33.3% during the third quarter. Mariner LLC now owns 17,475 shares of the construction company’s stock worth $641,000 after buying an additional 4,362 shares during the last quarter. Alpine Global Management LLC acquired a new position in Fluor during the third quarter worth $459,000. AQR Capital Management LLC increased its position in Fluor by 449.9% during the third quarter. AQR Capital Management LLC now owns 183,311 shares of the construction company’s stock worth $6,728,000 after buying an additional 149,974 shares during the last quarter. Finally, Toroso Investments LLC bought a new stake in Fluor during the third quarter valued at about $959,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on FLR. Robert W. Baird upped their price target on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Citigroup upped their price target on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Finally, Truist Financial upped their price target on shares of Fluor from $47.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.17.

Fluor Stock Up 2.1 %

NYSE FLR opened at $44.14 on Friday. The stock has a market cap of $7.56 billion, a PE ratio of 25.66, a PEG ratio of 2.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.67 and a current ratio of 1.67. Fluor Co. has a twelve month low of $28.02 and a twelve month high of $45.75. The firm has a 50-day simple moving average of $42.09 and a 200 day simple moving average of $40.13.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4 billion. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. On average, research analysts forecast that Fluor Co. will post 2.86 EPS for the current 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.