Renaissance Technologies LLC Acquires 114,400 Shares of Fluor Co. (NYSE:FLR)

Renaissance Technologies LLC grew its holdings in shares of Fluor Co. (NYSE:FLR) by 100.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 228,600 shares of the construction company’s stock after acquiring an additional 114,400 shares during the period. Renaissance Technologies LLC owned about 0.13% of Fluor worth $11,275,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FLR. Cornerstone Wealth Management LLC bought a new stake in shares of Fluor in the 4th quarter valued at about $484,000. Quantbot Technologies LP acquired a new stake in Fluor during the 4th quarter valued at approximately $3,667,000. Exchange Traded Concepts LLC raised its holdings in Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock worth $2,151,000 after purchasing an additional 32,472 shares during the last quarter. Cinctive Capital Management LP acquired a new position in shares of Fluor in the 4th quarter worth approximately $1,131,000. Finally, LPL Financial LLC boosted its stake in shares of Fluor by 19.3% in the 4th quarter. LPL Financial LLC now owns 118,652 shares of the construction company’s stock valued at $5,852,000 after purchasing an additional 19,161 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FLR. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Citigroup cut their target price on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays set a $40.00 price target on Fluor and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Truist Financial reduced their price objective on shares of Fluor from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, DA Davidson dropped their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Fluor has an average rating of “Moderate Buy” and a consensus target price of $49.43.

Fluor Stock Performance

FLR opened at $33.54 on Thursday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 2.75, a PEG ratio of 1.36 and a beta of 1.66. The company’s fifty day moving average price is $37.22 and its two-hundred day moving average price is $46.75. Fluor Co. has a 1-year low of $29.20 and a 1-year high of $60.10. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28.

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 business had revenue of $4.26 billion during 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%. On average, 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.