OP Asset Management Ltd Makes New Investment in Fluor Corporation $FLR

OP Asset Management Ltd acquired a new stake in shares of Fluor Corporation (NYSE:FLR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,563 shares of the construction company’s stock, valued at approximately $4,271,000. OP Asset Management Ltd owned 0.06% of Fluor at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC lifted its position in Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after buying an additional 311 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after acquiring an additional 483 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Fluor during the 4th quarter worth about $27,000. Larson Financial Group LLC grew its holdings in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after purchasing an additional 734 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Fluor in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

Shares of FLR opened at $53.62 on Friday. The company has a 50 day moving average of $48.76 and a two-hundred day moving average of $46.79. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. Fluor Corporation has a twelve month low of $37.62 and a twelve month high of $57.50. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts predict that Fluor Corporation will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLR. Truist Financial reiterated a “buy” rating and issued a $57.00 target price (down from $59.00) on shares of Fluor in a research note on Monday, May 11th. Citigroup decreased their price objective on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Robert W. Baird raised their target price on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Zacks Research lowered Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and a consensus target price of $53.33.

Fluor Company 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.