OP Asset Management Ltd Acquires New Position in Fluor Corporation $FLR

OP Asset Management Ltd bought a new position in Fluor Corporation (NYSE:FLR) in the first quarter, Holdings Channel reports. The firm bought 91,563 shares of the construction company’s stock, valued at approximately $4,271,000.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of Fluor by 40.3% in the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock worth $361,000 after buying an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Fluor by 337.7% in the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after acquiring an additional 12,645 shares during the period. Caxton Associates LLP purchased a new position in Fluor in the 1st quarter worth $266,000. Acadian Asset Management LLC acquired a new stake in Fluor during the 1st quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after purchasing an additional 248 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of Fluor stock opened at $53.62 on Friday. The firm has a 50-day simple moving average of $48.76 and a two-hundred day simple moving average of $46.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The company has a market cap of $7.49 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that Fluor Corporation will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FLR shares. Zacks Research lowered Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Robert W. Baird upped their target price on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial restated a “buy” rating and set a $57.00 price objective (down from $59.00) on shares of Fluor in a research note on Monday, May 11th. Finally, Citigroup cut their price objective on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.