Allspring Global Investments Holdings LLC Raises Stake in Fluor Co. (NYSE:FLR)

Allspring Global Investments Holdings LLC increased its stake in Fluor Co. (NYSE:FLR) by 91.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,845 shares of the construction company’s stock after buying an additional 5,666 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Fluor were worth $464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in shares of Fluor in the 4th quarter worth about $34,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Fluor in the 4th quarter worth about $34,000. Carmel Capital Partners LLC purchased a new position in shares of Fluor in the 3rd quarter worth about $37,000. Princeton Global Asset Management LLC boosted its holdings in shares of Fluor by 7,142.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,014 shares of the construction company’s stock worth $40,000 after buying an additional 1,000 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Fluor by 32.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,505 shares of the construction company’s stock worth $55,000 after buying an additional 371 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Trading Up 0.8 %

Shares of FLR opened at $40.64 on Friday. The business’s 50-day moving average price is $39.47 and its 200-day moving average price is $38.25. Fluor Co. has a twelve month low of $25.69 and a twelve month high of $43.24. The stock has a market cap of $6.92 billion, a PE ratio of 72.57, a P/E/G ratio of 3.20 and a beta of 2.12. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.56.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities analysts forecast that Fluor Co. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FLR shares. Citigroup upped their price objective on shares of Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Monday. KeyCorp started coverage on shares of Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $46.00 price objective on shares of Fluor in a report on Monday, March 25th. Finally, TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.17.

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.