Envestnet Asset Management Inc. Acquires 13,104 Shares of Fluor Co. (NYSE:FLR)

Envestnet Asset Management Inc. raised its holdings in shares of Fluor Co. (NYSE:FLR) by 15.1% during the fourth quarter, HoldingsChannel reports. The fund owned 99,684 shares of the construction company’s stock after purchasing an additional 13,104 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Fluor were worth $4,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after purchasing an additional 527 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Fluor in the 4th quarter valued at approximately $33,000. Smartleaf Asset Management LLC increased its stake in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after purchasing an additional 287 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Fluor in the 4th quarter worth about $57,000. Finally, Venturi Wealth Management LLC boosted its stake in Fluor by 826.2% during the 4th quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock valued at $77,000 after purchasing an additional 1,388 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Trading Up 2.6 %

NYSE FLR opened at $33.87 on Wednesday. Fluor Co. has a 12 month low of $29.20 and a 12 month high of $60.10. The company’s 50-day moving average price is $36.13 and its 200-day moving average price is $46.34. The stock has a market cap of $5.69 billion, a PE ratio of 2.78, a PEG ratio of 1.36 and a beta of 1.66. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share 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 company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. Equities research analysts forecast that Fluor Co. will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

FLR has been the topic of a number of recent research reports. Citigroup lowered their target price on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Robert W. Baird cut their price target on Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. 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 report on Wednesday, February 19th. KeyCorp cut their price target on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, April 4th. Finally, Truist Financial decreased their target price on shares of Fluor from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.43.

About Fluor

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.