Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Fluor Co. (NYSE:FLR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Fluor Co. (NYSE:FLR) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,683 shares of the construction company’s stock after buying an additional 3,079 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fluor were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

FLR has been the topic of several research reports. KeyCorp initiated coverage on shares of Fluor in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Truist Financial reissued a “buy” rating and set a $46.00 price objective on shares of Fluor in a research note on Monday, March 25th. Citigroup upped their target price 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. Finally, TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.17.

Fluor Stock Up 0.8 %

Shares of FLR stock opened at $40.95 on Friday. Fluor Co. has a 12 month low of $25.69 and a 12 month high of $43.24. The stock has a market cap of $6.97 billion, a P/E ratio of 73.13, a P/E/G ratio of 3.22 and a beta of 2.12. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56. The company has a 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $38.28.

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