New England Research & Management Inc. Takes Position in Fluor Co. (NYSE:FLR)

New England Research & Management Inc. bought a new stake in Fluor Co. (NYSE:FLR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,925 shares of the construction company’s stock, valued at approximately $208,000.

Several other hedge funds also recently modified their holdings of FLR. GAMMA Investing LLC bought a new position in shares of Fluor in the 4th quarter valued at about $27,000. Rise Advisors LLC bought a new position in shares of Fluor in the 1st quarter valued at about $28,000. BKM Wealth Management LLC bought a new position in Fluor during the 4th quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. bought a new position in Fluor during the 4th quarter worth approximately $34,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Fluor during the 4th quarter worth approximately $36,000. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of FLR stock opened at $43.55 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market capitalization of $7.46 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 2.34 and a beta of 2.03. The company’s 50 day moving average price is $41.81 and its two-hundred day moving average price is $40.01. Fluor Co. has a 52 week low of $28.02 and a 52 week high of $45.75.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 3rd. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Fluor had a net margin of 1.97% and a return on equity of 24.98%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the business earned $0.28 earnings per share. Fluor’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts expect that Fluor Co. will post 2.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLR has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Truist Financial reissued a “buy” rating and set a $47.00 price objective (up previously from $46.00) on shares of Fluor in a research note on Monday, May 6th. Finally, Robert W. Baird lifted their price objective on shares of Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.00.

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.