D. E. Shaw & Co. Inc. Sells 721,046 Shares of Fluor Co. (NYSE:FLR)

D. E. Shaw & Co. Inc. cut its holdings in Fluor Co. (NYSE:FLR) by 28.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,841,409 shares of the construction company’s stock after selling 721,046 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Fluor were worth $42,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Advisors LLC bought a new stake in shares of Fluor in the first quarter worth about $32,000. Wealthcare Advisory Partners LLC bought a new stake in Fluor during the 1st quarter valued at approximately $37,000. BDO Wealth Advisors LLC bought a new stake in Fluor during the 1st quarter valued at approximately $38,000. Institutional & Family Asset Management LLC bought a new stake in Fluor during the 1st quarter valued at approximately $66,000. Finally, Eaton Vance Management bought a new stake in Fluor during the 1st quarter valued at approximately $82,000. 72.83% of the stock is currently owned by institutional investors.

Several analysts have weighed in on the company. Citigroup cut their price objective on Fluor from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays lifted their price objective on Fluor from $22.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, May 10th. Finally, Zacks Investment Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating and set a $24.00 target price for the company in a report on Friday, April 30th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $19.17.

FLR stock opened at $16.86 on Thursday. The firm’s 50 day simple moving average is $18.03. Fluor Co. has a 52-week low of $8.10 and a 52-week high of $25.08. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -10.34 and a beta of 2.92. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.35.

Fluor (NYSE:FLR) last released its earnings results on Thursday, May 6th. The construction company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Fluor had a negative net margin of 1.59% and a negative return on equity of 8.63%. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the business earned ($1.22) earnings per share. The business’s revenue was down 20.5% on a year-over-year basis. Analysts forecast that Fluor Co. will post 0.62 earnings per share for the current year.

Fluor Profile

Fluor Corporation provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through six segments: Energy & Chemicals; Mining & Industrial; Infrastructure & Power; Government; Diversified Services; and Other.

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Institutional Ownership by Quarter for Fluor (NYSE:FLR)

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