Raymond James Financial Services Advisors Inc. Reduces Holdings in Fluor Co. (NYSE:FLR)

Raymond James Financial Services Advisors Inc. lessened its holdings in Fluor Co. (NYSE:FLR) by 43.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,438 shares of the construction company’s stock after selling 4,175 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Fluor were worth $213,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FLR. Insight Wealth Strategies LLC purchased a new stake in Fluor during the 4th quarter worth about $1,020,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Fluor by 385.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock worth $6,934,000 after purchasing an additional 149,990 shares in the last quarter. New York State Common Retirement Fund increased its position in Fluor by 36.7% during the 3rd quarter. New York State Common Retirement Fund now owns 143,359 shares of the construction company’s stock worth $5,261,000 after purchasing an additional 38,496 shares in the last quarter. Mackay Shields LLC purchased a new stake in Fluor during the 3rd quarter worth about $31,143,000. Finally, Hsbc Holdings PLC increased its position in Fluor by 33.9% during the 3rd quarter. Hsbc Holdings PLC now owns 234,376 shares of the construction company’s stock worth $8,579,000 after purchasing an additional 59,283 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Performance

Shares of NYSE:FLR opened at $40.29 on Thursday. The company has a market cap of $6.86 billion, a P/E ratio of 71.95, a PEG ratio of 3.13 and a beta of 2.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.60 and a current ratio of 1.60. Fluor Co. has a one year low of $25.69 and a one year high of $43.24. The business’s 50-day simple moving average is $39.51 and its 200 day simple moving average is $38.23.

Fluor (NYSE:FLR) last announced its earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.57 by $0.11. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.43 EPS. On average, sell-side analysts forecast that Fluor Co. will post 2.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FLR has been the topic of a number of research analyst reports. Citigroup raised their price target on Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday. Truist Financial reissued a “buy” rating and issued a $46.00 price target on shares of Fluor in a research note on Monday, March 25th. TheStreet lowered Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Finally, KeyCorp initiated coverage on Fluor in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Fluor presently has an average rating of “Hold” and a consensus price target of $43.17.

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.