Advisors Asset Management Inc. Boosts Stock Position in Fluor Co. (NYSE:FLR)

Advisors Asset Management Inc. lifted its position in shares of Fluor Co. (NYSE:FLR) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,930 shares of the construction company’s stock after purchasing an additional 9,399 shares during the period. Advisors Asset Management Inc. owned 0.05% of Fluor worth $4,287,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Fluor by 2,509.5% during the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after purchasing an additional 527 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Fluor during the fourth quarter worth about $33,000. Smartleaf Asset Management LLC boosted its holdings in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after purchasing an additional 287 shares during the period. Quarry LP boosted its holdings in shares of Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Fluor by 826.2% in the fourth quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock worth $77,000 after buying an additional 1,388 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on FLR shares. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays set a $40.00 price objective on shares of Fluor and gave the stock an “equal weight” rating in a report on Thursday, February 27th. DA Davidson lowered their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Truist Financial lowered their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Robert W. Baird lowered their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.71.

Fluor Price Performance

Shares of NYSE FLR opened at $37.68 on Friday. Fluor Co. has a fifty-two week low of $34.01 and a fifty-two week high of $60.10. The company has a 50 day simple moving average of $43.40 and a two-hundred day simple moving average of $48.42. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 3.09, a P/E/G ratio of 1.36 and a beta of 1.73. 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 announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Analysts expect that Fluor Co. will post 2.5 EPS 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.