Clearbridge Investments LLC Invests $25.06 Million in Fluor Co. (NYSE:FLR)

Clearbridge Investments LLC acquired a new stake in Fluor Co. (NYSE:FLR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 508,035 shares of the construction company’s stock, valued at approximately $25,056,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Fluor by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company’s stock valued at $872,871,000 after buying an additional 168,822 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock worth $190,953,000 after purchasing an additional 51,018 shares during the last quarter. Artemis Investment Management LLP boosted its position in Fluor by 49.1% during the fourth 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 during the period. Hennessy Advisors Inc. grew its holdings in Fluor by 13.1% during the fourth quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock valued at $51,322,000 after purchasing an additional 120,800 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Fluor by 24.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 973,753 shares of the construction company’s stock valued at $46,458,000 after purchasing an additional 193,071 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Performance

FLR opened at $36.34 on Wednesday. The stock’s 50 day simple moving average is $41.42 and its 200-day simple moving average is $47.98. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The stock has a market cap of $6.11 billion, a PE ratio of 2.98, a P/E/G ratio of 1.36 and a beta of 1.73. Fluor Co. has a 1 year low of $34.01 and a 1 year high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Sell-side analysts forecast that Fluor Co. will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

FLR has been the topic of a number of research analyst reports. DA Davidson lowered their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp increased their target price on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Citigroup cut their price target on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Fluor from a “hold” rating to a “buy” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus price target 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.