Fisher Asset Management LLC Takes $16.21 Million Position in Fluor Corporation $FLR

Fisher Asset Management LLC acquired a new stake in Fluor Corporation (NYSE:FLR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 316,107 shares of the construction company’s stock, valued at approximately $16,207,000. Fisher Asset Management LLC owned 0.20% of Fluor at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers increased its holdings in Fluor by 54.7% during the 1st quarter. Cetera Investment Advisers now owns 25,804 shares of the construction company’s stock valued at $924,000 after purchasing an additional 9,126 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Fluor in the first quarter valued at approximately $46,000. Headlands Technologies LLC bought a new position in shares of Fluor in the 1st quarter worth $297,000. Citigroup Inc. increased its holdings in Fluor by 22.5% in the first quarter. Citigroup Inc. now owns 1,098,784 shares of the construction company’s stock valued at $39,358,000 after purchasing an additional 202,005 shares during the last quarter. Finally, Cynosure Group LLC acquired a new position in Fluor in the first quarter valued at about $347,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Trading Up 3.4%

Shares of NYSE:FLR opened at $44.09 on Thursday. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 2.24 and a beta of 1.31. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Fluor Corporation has a 12 month low of $29.20 and a 12 month high of $57.50. The company’s fifty day simple moving average is $44.83 and its 200 day simple moving average is $45.60.

Fluor (NYSE:FLR) last released its earnings results on Friday, November 7th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.24. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Fluor had a return on equity of 8.32% and a net margin of 21.71%.The company’s revenue was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Fluor has set its FY 2025 guidance at 2.100-2.250 EPS. As a group, research analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FLR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research note on Monday. Zacks Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. Truist Financial boosted their price target on shares of Fluor from $51.00 to $56.00 and gave the company a “buy” rating in a report on Monday, November 10th. DA Davidson upped their price objective on shares of Fluor from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $49.57.

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.