Concentric Capital Strategies LP Takes Position in Fluor Co. (NYSE:FLR)

Concentric Capital Strategies LP bought a new position in shares of Fluor Co. (NYSE:FLR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,230 shares of the construction company’s stock, valued at approximately $1,146,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLR. Vanguard Group Inc. lifted its stake in Fluor by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company’s stock valued at $872,871,000 after buying an additional 168,822 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Fluor by 3.6% in the fourth quarter. Alliancebernstein L.P. now owns 3,093,998 shares of the construction company’s stock worth $152,596,000 after buying an additional 107,327 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fluor by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company’s stock valued at $124,087,000 after purchasing an additional 25,528 shares in the last quarter. Northern Trust Corp raised its holdings in Fluor by 12.9% during the fourth quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company’s stock valued at $117,971,000 after buying an additional 273,156 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Fluor by 329.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock worth $97,954,000 after purchasing an additional 1,523,647 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Down 0.7 %

NYSE:FLR opened at $34.85 on Thursday. 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 Co. has a 52-week low of $29.20 and a 52-week high of $60.10. The company has a market cap of $5.86 billion, a PE ratio of 2.86, a PEG ratio of 1.36 and a beta of 1.24. The stock has a 50-day simple moving average of $35.26 and a 200 day simple moving average of $45.11.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Fluor’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that Fluor Co. will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on FLR shares. Barclays set a $40.00 target price on Fluor and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Truist Financial raised their price target on shares of Fluor from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group lowered their target price on shares of Fluor from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup dropped their price target on Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, KeyCorp decreased their price target on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.43.

Fluor Company 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.