Cibc World Markets Corp Takes Position in Fluor Co. (NYSE:FLR)

Cibc World Markets Corp bought a new stake in shares of Fluor Co. (NYSE:FLR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 15,980 shares of the construction company’s stock, valued at approximately $788,000.

A number of other hedge funds have also recently modified their holdings of FLR. Versant Capital Management Inc grew its stake in shares of Fluor by 2,509.5% during the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after buying an additional 527 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Fluor during the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC grew its stake in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares during the last quarter. Quarry LP grew its stake in Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Fluor by 826.2% in the fourth quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock worth $77,000 after purchasing an additional 1,388 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 0.1 %

Shares of NYSE FLR opened at $37.72 on Friday. Fluor Co. has a 12-month low of $34.01 and a 12-month high of $60.10. The stock’s fifty day simple moving average is $43.19 and its two-hundred day simple moving average is $48.34. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $6.34 billion, a PE ratio of 3.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73.

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

Analyst Ratings Changes

Several brokerages recently issued reports on FLR. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. DA Davidson dropped their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. KeyCorp increased their price objective on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial dropped their price objective on Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Finally, Barclays set a $40.00 target price on Fluor and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.71.

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.