Anchor Capital Advisors LLC Lowers Holdings in Fluor Corporation $FLR

Anchor Capital Advisors LLC decreased its stake in Fluor Corporation (NYSE:FLR) by 8.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 618,086 shares of the construction company’s stock after selling 57,913 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Fluor were worth $24,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Fluor by 8.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock worth $174,077,000 after purchasing an additional 328,122 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Fluor during the fourth quarter worth approximately $1,350,000. Goodman Financial Corp purchased a new position in Fluor during the fourth quarter worth approximately $7,610,000. Hudson Bay Capital Management LP raised its holdings in shares of Fluor by 310.9% during the third quarter. Hudson Bay Capital Management LP now owns 98,107 shares of the construction company’s stock valued at $4,127,000 after acquiring an additional 74,231 shares during the last quarter. Finally, Mutual Advisors LLC acquired a new position in shares of Fluor during the fourth quarter valued at approximately $863,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

NYSE:FLR opened at $49.38 on Wednesday. Fluor Corporation has a one year low of $37.62 and a one year high of $57.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market cap of $6.90 billion, a PE ratio of 28.71, a P/E/G ratio of 1.44 and a beta of 1.25. The stock has a 50 day moving average price of $47.33 and a 200 day moving average price of $45.65.

Fluor (NYSE:FLR) last posted 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). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the business posted $0.73 EPS. Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts expect that Fluor Corporation will post 2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLR has been the subject of a number of research analyst reports. Citigroup reduced their target price on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 11th. DA Davidson increased their target price on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Robert W. Baird increased their target price on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. UBS Group reissued a “buy” rating and set a $57.00 target price on shares of Fluor in a report on Thursday, February 19th. Finally, Truist Financial reissued a “buy” rating and set a $57.00 target price (down from $59.00) on shares of Fluor in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

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.