PNC Financial Services Group Inc. lowered its position in shares of Fluor Co. (NYSE:FLR – Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,788 shares of the construction company’s stock after selling 565 shares during the period. PNC Financial Services Group Inc.’s holdings in Fluor were worth $501,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of FLR. Arizona State Retirement System grew its stake in shares of Fluor by 2.2% during the third quarter. Arizona State Retirement System now owns 40,784 shares of the construction company’s stock worth $1,497,000 after purchasing an additional 871 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Fluor by 36.7% during the third quarter. New York State Common Retirement Fund now owns 143,359 shares of the construction company’s stock worth $5,261,000 after purchasing an additional 38,496 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in Fluor in the third quarter valued at $394,000. Swiss National Bank boosted its stake in Fluor by 1.8% in the third quarter. Swiss National Bank now owns 314,900 shares of the construction company’s stock valued at $11,557,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Fluor by 39.5% in the third quarter. Janney Montgomery Scott LLC now owns 82,087 shares of the construction company’s stock valued at $3,012,000 after acquiring an additional 23,232 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.
Wall Street Analysts Forecast Growth
FLR has been the subject of several research analyst reports. Citigroup upped their price objective on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Robert W. Baird upped their price objective on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Truist Financial reiterated a “buy” rating and set a $47.00 target price (up previously from $46.00) on shares of Fluor in a research note on Monday, May 6th. Finally, TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Fluor currently has an average rating of “Hold” and an average target price of $44.00.
View Our Latest Stock Analysis on FLR
Fluor Price Performance
Shares of FLR opened at $43.40 on Monday. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 2.36 and a beta of 2.11. Fluor Co. has a fifty-two week low of $26.24 and a fifty-two week high of $43.43. The firm has a 50-day simple moving average of $40.57 and a 200-day simple moving average of $39.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.67 and a current ratio of 1.67.
Fluor (NYSE:FLR – Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.07). The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4 billion. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. On average, equities research analysts anticipate that Fluor Co. will post 2.86 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.
Further Reading
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Source: defenseworld.net
