Covalis Capital LLP Takes Position in Fluor Co. (NYSE:FLR)

Covalis Capital LLP bought a new position in shares of Fluor Co. (NYSE:FLR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 152,152 shares of the construction company’s stock, valued at approximately $7,504,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Fluor by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company’s stock worth $872,871,000 after acquiring an additional 168,822 shares during the period. Alliancebernstein L.P. raised its stake in shares of Fluor by 3.6% in the 4th quarter. Alliancebernstein L.P. now owns 3,093,998 shares of the construction company’s stock valued at $152,596,000 after purchasing an additional 107,327 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Fluor by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company’s stock valued at $124,087,000 after acquiring an additional 25,528 shares during the period. Invesco Ltd. lifted its position in shares of Fluor by 23.1% during the 4th quarter. Invesco Ltd. now owns 1,345,503 shares of the construction company’s stock valued at $66,360,000 after acquiring an additional 252,690 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its stake in Fluor by 49.1% during the fourth 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 in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLR has been the subject of a number of recent research reports. StockNews.com raised Fluor from a “hold” rating to a “buy” rating in a research note on Thursday. KeyCorp reduced their price target on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. Robert W. Baird lowered their price objective on Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. DA Davidson decreased their price target on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup reduced their price target on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.43.

Fluor Stock Performance

Shares of Fluor stock opened at $33.99 on Friday. The firm’s 50-day moving average is $36.62 and its 200 day moving average is $46.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. Fluor Co. has a 1 year low of $29.20 and a 1 year high of $60.10. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 2.79, a PEG ratio of 1.36 and a beta of 1.66.

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

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.