First Citizens Bank & Trust Co. Makes New $1 Million Investment in Fluor Corporation $FLR

First Citizens Bank & Trust Co. acquired a new position in shares of Fluor Corporation (NYSE:FLR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,514 shares of the construction company’s stock, valued at approximately $1,004,000.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of Fluor by 34.9% in the first quarter. First Trust Advisors LP now owns 337,029 shares of the construction company’s stock valued at $15,722,000 after buying an additional 87,174 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Fluor by 12.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,828 shares of the construction company’s stock worth $458,000 after acquiring an additional 1,087 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Fluor by 24.3% in the first quarter. Meeder Asset Management Inc. now owns 4,153 shares of the construction company’s stock valued at $194,000 after acquiring an additional 813 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Fluor by 16.4% during the 1st quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock worth $124,000 after purchasing an additional 375 shares during the last quarter. Finally, Atlas Wealth LLC raised its holdings in shares of Fluor by 699.8% in the 1st quarter. Atlas Wealth LLC now owns 131,395 shares of the construction company’s stock valued at $6,130,000 after purchasing an additional 114,966 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Performance

NYSE:FLR opened at $53.38 on Friday. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The stock has a fifty day moving average price of $49.53 and a 200-day moving average price of $48.02.

Fluor (NYSE:FLR) last released its 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). The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. Fluor’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. As a group, equities analysts anticipate that Fluor Corporation will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FLR shares. Citigroup dropped their price objective on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Robert W. Baird lifted their price objective 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. Truist Financial increased their price objective on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $57.20.

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.