AlphaQuest LLC Raises Stock Position in Fluor Corporation $FLR

AlphaQuest LLC raised its stake in shares of Fluor Corporation (NYSE:FLR) by 104.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,126 shares of the construction company’s stock after purchasing an additional 2,105 shares during the quarter. AlphaQuest LLC’s holdings in Fluor were worth $212,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position in Fluor by 10.7% during the 1st quarter. New York State Teachers Retirement System now owns 192,218 shares of the construction company’s stock valued at $6,885,000 after purchasing an additional 18,603 shares during the period. UMB Bank n.a. lifted its position in Fluor by 288.9% during the second quarter. UMB Bank n.a. now owns 1,956 shares of the construction company’s stock valued at $100,000 after buying an additional 1,453 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Fluor by 48.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 38,462 shares of the construction company’s stock valued at $2,029,000 after buying an additional 12,590 shares during the period. Dynamic Technology Lab Private Ltd lifted its position in Fluor by 46.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 23,640 shares of the construction company’s stock valued at $847,000 after buying an additional 7,540 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in Fluor by 59.6% during the first quarter. Vontobel Holding Ltd. now owns 18,004 shares of the construction company’s stock valued at $645,000 after buying an additional 6,720 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on FLR shares. Truist Financial lowered their price objective on Fluor from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen lowered Fluor from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Citigroup lowered their price objective on Fluor from $71.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, August 4th. KeyCorp cut Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 price objective for the company. in a research note on Tuesday, July 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fluor in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.43.

Fluor Stock Performance

Shares of Fluor stock opened at $48.78 on Monday. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 2.01 and a beta of 1.48. The firm’s 50-day moving average is $44.11 and its 200 day moving average is $44.42. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.62.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.16). Fluor had a return on equity of 9.27% and a net margin of 25.35%.The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. Fluor’s quarterly revenue was down 5.9% compared to the same quarter last year. Sell-side analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

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.