HighTower Advisors LLC Increases Stock Position in Fluor Co. (NYSE:FLR)

HighTower Advisors LLC boosted its stake in shares of Fluor Co. (NYSE:FLR) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,881 shares of the construction company’s stock after buying an additional 959 shares during the quarter. HighTower Advisors LLC’s holdings in Fluor were worth $1,720,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Fluor during the fourth quarter worth about $484,000. Exchange Traded Concepts LLC lifted its position in shares of Fluor by 291.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock worth $2,151,000 after purchasing an additional 32,472 shares in the last quarter. Aequim Alternative Investments LP lifted its position in shares of Fluor by 6.0% during the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after purchasing an additional 41,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Fluor by 67.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after purchasing an additional 19,836 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FLR. Citigroup reduced their price target on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Monday, March 17th. DA Davidson cut their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. KeyCorp raised their price objective on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Truist Financial cut their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.71.

Fluor Stock Performance

Shares of FLR opened at $37.72 on Monday. The company’s 50 day simple moving average is $43.19 and its 200-day simple moving average is $48.35. Fluor Co. has a 12-month low of $34.01 and a 12-month high of $60.10. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The firm has a market cap of $6.34 billion, a PE ratio of 3.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. As a group, equities analysts predict that Fluor Co. will post 2.5 EPS 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.