Cerity Partners LLC Takes $767,000 Position in Fluor Co. (NYSE:FLR)

Cerity Partners LLC acquired a new stake in Fluor Co. (NYSE:FLR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,587 shares of the construction company’s stock, valued at approximately $767,000.

Several other hedge funds also recently bought and sold shares of FLR. Wellington Management Group LLP increased its stake in Fluor by 1.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock worth $653,546,000 after acquiring an additional 243,371 shares during the last quarter. Vanguard Group Inc. lifted its position in Fluor by 0.7% during the third quarter. Vanguard Group Inc. now owns 14,390,483 shares of the construction company’s stock valued at $528,131,000 after purchasing an additional 106,478 shares during the last quarter. Victory Capital Management Inc. grew its stake in Fluor by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,975,324 shares of the construction company’s stock worth $72,494,000 after buying an additional 220,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Fluor by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,302,149 shares of the construction company’s stock worth $47,789,000 after buying an additional 76,044 shares during the last quarter. Finally, Mackay Shields LLC purchased a new stake in shares of Fluor during the 3rd quarter valued at $31,143,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of research analyst reports. Citigroup increased their target price on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday. Truist Financial restated a “buy” rating and issued a $46.00 target price on shares of Fluor in a research report on Monday, March 25th. KeyCorp began coverage on shares of Fluor in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Finally, TheStreet lowered shares of Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $43.17.

Fluor Stock Performance

Shares of FLR stock opened at $40.40 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.60. Fluor Co. has a fifty-two week low of $25.69 and a fifty-two week high of $43.24. The stock has a 50 day moving average price of $39.54 and a two-hundred day moving average price of $38.22. The company has a market capitalization of $6.87 billion, a P/E ratio of 72.14, a PEG ratio of 3.11 and a beta of 2.12.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the company posted $0.43 EPS. Fluor’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts expect that Fluor Co. will post 2.84 earnings per share for the current 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.