Balyasny Asset Management L.P. Raises Stake in Fluor Co. (NYSE:FLR)

Balyasny Asset Management L.P. lifted its stake in shares of Fluor Co. (NYSE:FLR) by 10,125.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,056,946 shares of the construction company’s stock after acquiring an additional 1,046,610 shares during the period. Balyasny Asset Management L.P.’s holdings in Fluor were worth $52,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Fluor by 10.3% in the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock valued at $112,000 after purchasing an additional 213 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Fluor by 2.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after acquiring an additional 241 shares during the last quarter. CIBC Asset Management Inc grew its position in Fluor by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after acquiring an additional 264 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after purchasing an additional 287 shares during the last quarter. Finally, Highland Capital Management LLC raised its holdings in Fluor by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 4,653 shares of the construction company’s stock valued at $229,000 after buying an additional 288 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on FLR shares. KeyCorp cut their target price on Fluor from $54.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. Truist Financial lifted their target price on Fluor from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird reduced their price target on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. DA Davidson dropped 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. Finally, UBS Group decreased their price target on shares of Fluor from $57.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and an average price target of $45.86.

Fluor Stock Down 3.7 %

Shares of Fluor stock opened at $34.45 on Tuesday. Fluor Co. has a 52-week low of $29.20 and a 52-week high of $60.10. The company has a 50 day moving average of $35.36 and a 200 day moving average of $45.25. 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 company has a market capitalization of $5.79 billion, a P/E ratio of 2.83, a P/E/G ratio of 1.36 and a beta of 1.24.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.50 by $0.23. The firm had revenue of $3.98 billion for 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%. Fluor’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, research analysts forecast 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.