M&T Bank Corp Acquires New Position in Fluor Co. (NYSE:FLR)

M&T Bank Corp acquired a new stake in shares of Fluor Co. (NYSE:FLR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,271 shares of the construction company’s stock, valued at approximately $408,000.

A number of other institutional investors have also modified their holdings of FLR. Westfield Capital Management Co. LP bought a new stake in shares of Fluor during the 3rd quarter valued at about $39,289,000. Cookson Peirce & Co. Inc. bought a new stake in shares of Fluor during the 4th quarter valued at about $24,849,000. Charles Schwab Investment Management Inc. grew its position in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the last quarter. Artemis Investment Management LLP grew its position in shares of Fluor by 49.1% during the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock valued at $61,792,000 after buying an additional 412,312 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Fluor by 42.1% in the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock worth $41,077,000 after purchasing an additional 254,904 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Down 1.8 %

Shares of NYSE:FLR opened at $34.92 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The company has a market cap of $5.89 billion, a PE ratio of 2.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. Fluor Co. has a 52 week low of $34.01 and a 52 week high of $60.10. The firm has a 50 day simple moving average of $44.98 and a 200 day simple moving average of $48.94.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, research analysts expect that Fluor Co. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLR has been the subject of several recent analyst reports. Robert W. Baird decreased their target price on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Truist Financial decreased their target price on shares of Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. KeyCorp upped their target price on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. DA Davidson decreased their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, Barclays set a $40.00 target price on shares of Fluor and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.71.

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.