King Luther Capital Management Corp Grows Stock Position in Fluor Co. (NYSE:FLR)

King Luther Capital Management Corp boosted its stake in Fluor Co. (NYSE:FLR) by 84.2% in the fourth quarter, Holdings Channel reports. The fund owned 637,150 shares of the construction company’s stock after buying an additional 291,210 shares during the quarter. King Luther Capital Management Corp’s holdings in Fluor were worth $24,957,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLR. Cornercap Investment Counsel Inc. raised its position in shares of Fluor by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 14,039 shares of the construction company’s stock valued at $550,000 after purchasing an additional 326 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Fluor by 32.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,505 shares of the construction company’s stock valued at $55,000 after acquiring an additional 371 shares in the last quarter. Spire Wealth Management raised its position in shares of Fluor by 59.2% during the 4th quarter. Spire Wealth Management now owns 1,008 shares of the construction company’s stock valued at $37,000 after acquiring an additional 375 shares in the last quarter. Strs Ohio increased its position in Fluor by 3.1% in the fourth quarter. Strs Ohio now owns 16,600 shares of the construction company’s stock worth $650,000 after buying an additional 500 shares during the period. Finally, Independent Advisor Alliance increased its position in Fluor by 4.2% in the fourth quarter. Independent Advisor Alliance now owns 12,289 shares of the construction company’s stock worth $481,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

FLR stock traded down $0.36 during midday trading on Wednesday, hitting $40.52. 439,245 shares of the company traded hands, compared to its average volume of 1,507,784. Fluor Co. has a twelve month low of $26.24 and a twelve month high of $43.24. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. The business has a 50 day simple moving average of $40.22 and a 200-day simple moving average of $38.81. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 3.07 and a beta of 2.11.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.07). Fluor had a net margin of 1.97% and a return on equity of 24.98%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the business earned $0.28 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts predict that Fluor Co. will post 2.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FLR shares. Truist Financial reaffirmed a “buy” rating and issued a $47.00 target price (up from $46.00) on shares of Fluor in a research report on Monday, May 6th. Robert W. Baird upped their target price on Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, May 6th. TheStreet downgraded Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Finally, Citigroup raised their price target on Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Fluor currently has an average rating of “Hold” and an average price target of $44.00.

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.