Fluor Co. (NYSE:FLR) Holdings Lowered by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its stake in shares of Fluor Co. (NYSE:FLR) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,875 shares of the construction company’s stock after selling 4,600 shares during the quarter. Picton Mahoney Asset Management’s holdings in Fluor were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westfield Capital Management Co. LP bought a new stake in shares of Fluor in the 3rd quarter worth approximately $39,289,000. Cookson Peirce & Co. Inc. bought a new stake in shares of Fluor in the 4th quarter worth approximately $24,849,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of Fluor by 49.1% in the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after purchasing an additional 412,312 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Fluor in the 4th quarter worth approximately $13,130,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Performance

Shares of FLR opened at $36.84 on Friday. The company’s 50 day moving average price is $44.41 and its 200 day moving average price is $48.75. Fluor Co. has a 52 week low of $34.01 and a 52 week high of $60.10. The company has a market capitalization of $6.22 billion, a PE ratio of 3.02, a PEG ratio of 1.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Barclays set a $40.00 target price on shares of Fluor and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. KeyCorp lifted their target price on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. DA Davidson dropped their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup dropped their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and a consensus 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.