Renaissance Technologies LLC Buys Shares of 189,900 Fluor Corporation $FLR

Renaissance Technologies LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 189,900 shares of the construction company’s stock, valued at approximately $8,859,000.

A number of other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC boosted its position in Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after acquiring an additional 311 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after purchasing an additional 483 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Fluor during the fourth quarter worth $27,000. Larson Financial Group LLC grew its position in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after purchasing an additional 734 shares during the period. Finally, Banque Transatlantique SA grew its position in shares of Fluor by 312.5% in the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after purchasing an additional 625 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Price Performance

Shares of Fluor stock opened at $50.17 on Monday. The business’s fifty day moving average price is $50.26 and its 200 day moving average price is $48.26. Fluor Corporation has a twelve month low of $37.62 and a twelve month high of $57.00. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $7.01 billion, a P/E ratio of 29.17, a PEG ratio of 1.59 and a beta of 1.23.

Fluor (NYSE:FLR) last announced its quarterly 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 firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. As a group, research analysts anticipate that Fluor Corporation will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Fluor 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.