AIA Group Ltd Makes New Investment in Fluor Co. (NYSE:FLR)

AIA Group Ltd acquired a new position in Fluor Co. (NYSE:FLR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,800 shares of the construction company’s stock, valued at approximately $1,402,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in shares of Fluor by 1.4% during the third quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock valued at $653,546,000 after acquiring an additional 243,371 shares during the period. BlackRock Inc. lifted its stake in Fluor by 3.5% in the first quarter. BlackRock Inc. now owns 16,937,750 shares of the construction company’s stock valued at $485,943,000 after buying an additional 571,316 shares during the period. Vanguard Group Inc. lifted its stake in Fluor by 0.7% in the third quarter. Vanguard Group Inc. now owns 14,390,483 shares of the construction company’s stock valued at $528,131,000 after buying an additional 106,478 shares during the period. State Street Corp lifted its stake in Fluor by 1.2% in the first quarter. State Street Corp now owns 4,904,136 shares of the construction company’s stock valued at $151,581,000 after buying an additional 59,947 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Fluor by 8.9% in the second quarter. Alliancebernstein L.P. now owns 4,627,326 shares of the construction company’s stock valued at $136,969,000 after buying an additional 378,388 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of NYSE FLR opened at $39.34 on Friday. The stock has a 50 day moving average price of $39.59 and a 200 day moving average price of $38.09. Fluor Co. has a 52 week low of $25.69 and a 52 week high of $43.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $6.69 billion, a PE ratio of 70.00, a price-to-earnings-growth ratio of 3.14 and a beta of 2.12.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that Fluor Co. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FLR shares. KeyCorp initiated coverage on Fluor in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. TheStreet downgraded Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. Citigroup increased their price target on Fluor from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Truist Financial restated a “buy” rating and issued a $46.00 price target on shares of Fluor in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Fluor has a consensus rating of “Hold” and a consensus target price of $42.83.

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.