Fluor Corporation $FLR Stock Position Boosted by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in shares of Fluor Corporation (NYSE:FLR) by 38.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,435 shares of the construction company’s stock after buying an additional 58,333 shares during the period. Edgestream Partners L.P. owned approximately 0.15% of Fluor worth $9,723,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FLR. NewEdge Advisors LLC increased its stake in shares of Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after acquiring an additional 2,896 shares during the period. Jones Financial Companies Lllp lifted its position in Fluor by 337.7% in the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock worth $587,000 after purchasing an additional 12,645 shares during the period. Caxton Associates LLP bought a new position in Fluor during the 1st quarter valued at $266,000. Acadian Asset Management LLC acquired a new position in shares of Fluor during the 1st quarter valued at $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after purchasing an additional 248 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FLR shares. Robert W. Baird upped their price objective on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup dropped their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Truist Financial upped their price target on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fluor presently has an average rating of “Hold” and a consensus target price of $57.20.

Fluor Stock Performance

FLR opened at $46.83 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The firm has a market cap of $6.54 billion, a PE ratio of 27.23, a P/E/G ratio of 1.56 and a beta of 1.23. The business has a fifty day simple moving average of $50.04 and a 200-day simple moving average of $48.18. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.00.

Fluor (NYSE:FLR) last announced its earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, equities analysts predict that Fluor Corporation will post 2.63 EPS for the current fiscal year.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.