Pinebridge Investments L.P. Acquires 12,581 Shares of Fluor Co. (NYSE:FLR)

Pinebridge Investments L.P. boosted its holdings in Fluor Co. (NYSE:FLR) by 42.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,036 shares of the construction company’s stock after buying an additional 12,581 shares during the quarter. Pinebridge Investments L.P.’s holdings in Fluor were worth $2,073,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Fluor by 232.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 387,671 shares of the construction company’s stock valued at $19,121,000 after purchasing an additional 271,194 shares during the last quarter. Yaupon Capital Management LP acquired a new position in shares of Fluor during the fourth quarter worth $26,353,000. Anomaly Capital Management LP bought a new position in shares of Fluor in the 4th quarter valued at $12,995,000. Stifel Financial Corp boosted its holdings in shares of Fluor by 82.1% during the 4th quarter. Stifel Financial Corp now owns 42,821 shares of the construction company’s stock valued at $2,112,000 after acquiring an additional 19,309 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its position in Fluor by 24.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 80,723 shares of the construction company’s stock worth $3,981,000 after acquiring an additional 15,622 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the topic of several research reports. Truist Financial reduced their price target on Fluor from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird cut their price target on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. KeyCorp decreased their price objective on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, April 4th. DA Davidson cut their target price on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, UBS Group reduced their price target on Fluor from $57.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.57.

Fluor Price Performance

Fluor stock opened at $35.54 on Monday. The stock’s 50 day moving average price is $35.72 and its two-hundred day moving average price is $45.99. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 2.92, a PEG ratio of 1.36 and a beta of 1.66. 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.

Fluor (NYSE:FLR) last posted 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 company 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, equities analysts predict that Fluor Co. will post 2.5 earnings per share for the current year.

Fluor 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.