Renaissance Technologies LLC Acquires Shares of 189,900 Fluor Corporation $FLR

Renaissance Technologies LLC bought a new position in shares of Fluor Corporation (NYSE:FLR) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 189,900 shares of the construction company’s stock, valued at approximately $8,859,000. Renaissance Technologies LLC owned 0.14% of Fluor at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Fluor by 524.8% in the first quarter. Public Employees Retirement System of Ohio now owns 23,430 shares of the construction company’s stock valued at $1,093,000 after buying an additional 19,680 shares in the last quarter. Cloverfields Capital Group LP raised its position in Fluor by 20.8% in the first quarter. Cloverfields Capital Group LP now owns 26,155 shares of the construction company’s stock worth $1,220,000 after acquiring an additional 4,500 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Fluor in the first quarter valued at $1,004,000. First Trust Advisors LP grew its stake in shares of Fluor by 34.9% during the 1st quarter. First Trust Advisors LP now owns 337,029 shares of the construction company’s stock worth $15,722,000 after purchasing an additional 87,174 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Fluor by 12.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,828 shares of the construction company’s stock valued at $458,000 after purchasing an additional 1,087 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Up 0.0%

FLR stock opened at $50.17 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The company’s 50 day simple moving average is $50.26 and its 200-day simple moving average is $48.26. Fluor Corporation has a 12 month low of $37.62 and a 12 month high of $57.00. The firm has a market capitalization of $7.01 billion, a PE ratio of 29.17, a P/E/G ratio of 1.59 and a beta of 1.23.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Equities analysts expect that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLR. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup reduced their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Robert W. Baird boosted their price target on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Zacks Research cut Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Finally, Truist Financial lifted their price objective on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fluor currently has a consensus rating of “Hold” and an average target price 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.