Intech Investment Management LLC Increases Holdings in Fluor Co. (NYSE:FLR)

Intech Investment Management LLC increased its position in Fluor Co. (NYSE:FLR) by 70.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,336 shares of the construction company’s stock after acquiring an additional 48,831 shares during the period. Intech Investment Management LLC’s holdings in Fluor were worth $5,836,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new stake in shares of Fluor during the 4th quarter valued at about $484,000. Exchange Traded Concepts LLC grew its position in Fluor by 291.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after buying an additional 32,472 shares during the period. Aequim Alternative Investments LP increased its holdings in Fluor by 6.0% during the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after buying an additional 41,800 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Fluor by 67.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after acquiring an additional 19,836 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the topic of a number of recent research reports. Barclays set a $40.00 target price on Fluor and gave the stock an “equal weight” rating in a report on Thursday, February 27th. StockNews.com raised Fluor from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial cut their price objective on Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, DA Davidson dropped their price target on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.71.

Fluor Price Performance

Shares of NYSE:FLR opened at $37.15 on Wednesday. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 3.05, a P/E/G ratio of 1.36 and a beta of 1.73. The firm has a fifty day moving average price of $43.85 and a 200 day moving average price of $48.57. Fluor Co. has a fifty-two week low of $34.01 and a fifty-two week 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.

Fluor (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 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 company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. As a group, sell-side analysts expect that Fluor Co. will post 2.5 earnings per share for the current fiscal 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.