Polymer Capital Management US LLC Buys New Shares in Fluor Co. (NYSE:FLR)

Polymer Capital Management US LLC purchased a new position in Fluor Co. (NYSE:FLR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,700 shares of the construction company’s stock, valued at approximately $873,000.

Several other institutional investors have also added to or reduced their stakes in the business. Clearbridge Investments LLC bought a new stake in shares of Fluor in the 4th quarter valued at about $25,056,000. Cookson Peirce & Co. Inc. purchased a new position in Fluor in the 4th quarter worth approximately $24,849,000. Artemis Investment Management LLP lifted its position in Fluor by 49.1% in 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 purchasing an additional 412,312 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Fluor during the fourth quarter valued at approximately $13,130,000. Finally, Principal Financial Group Inc. increased its stake in shares of Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock worth $41,077,000 after buying an additional 254,904 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup cut their price target on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Robert W. Baird reduced their price target on Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday. Truist Financial dropped their price objective on Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Barclays set a $40.00 target price on Fluor and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, StockNews.com raised Fluor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.57.

Fluor Trading Down 8.7 %

NYSE FLR opened at $31.02 on Monday. The firm has a market capitalization of $5.21 billion, a PE ratio of 2.55, a P/E/G ratio of 1.36 and a beta of 1.66. The stock’s 50 day moving average is $40.18 and its 200 day moving average is $47.73. Fluor Co. has a twelve month low of $29.14 and a twelve month high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

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