Allspring Global Investments Holdings LLC Acquires 5,666 Shares of Fluor Co. (NYSE:FLR)

Allspring Global Investments Holdings LLC increased its holdings in Fluor Co. (NYSE:FLR) by 91.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,845 shares of the construction company’s stock after purchasing an additional 5,666 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fluor were worth $464,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of FLR. Mackay Shields LLC bought a new stake in Fluor in the 3rd quarter worth about $31,143,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Fluor by 3,488.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 609,400 shares of the construction company’s stock worth $22,365,000 after buying an additional 592,418 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Fluor in the 3rd quarter worth about $12,724,000. Jacobs Levy Equity Management Inc. boosted its position in Fluor by 82.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 608,786 shares of the construction company’s stock worth $22,342,000 after purchasing an additional 274,264 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Fluor by 1.4% in the third quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock worth $653,546,000 after purchasing an additional 243,371 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Up 0.8 %

FLR stock opened at $40.64 on Friday. Fluor Co. has a twelve month low of $25.69 and a twelve month high of $43.24. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.56. The stock has a market cap of $6.92 billion, a P/E ratio of 72.57, a PEG ratio of 3.20 and a beta of 2.12. The business’s 50-day moving average price is $39.47 and its 200-day moving average price is $38.25.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the firm earned $0.43 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Fluor Co. will post 2.84 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on FLR shares. TheStreet cut Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Truist Financial reissued a “buy” rating and issued a $46.00 target price on shares of Fluor in a research report on Monday, March 25th. Citigroup raised their target price on Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, KeyCorp started coverage on Fluor in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.17.

Fluor Company 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.