Readystate Asset Management LP Takes $3.54 Million Position in Fluor Corporation $FLR

Readystate Asset Management LP acquired a new position in Fluor Corporation (NYSE:FLR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 75,792 shares of the construction company’s stock, valued at approximately $3,536,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Fluor during the fourth quarter valued at $1,350,000. Pacific Heights Asset Management LLC increased its holdings in Fluor by 23.1% in the 4th quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock worth $15,852,000 after buying an additional 75,000 shares during the period. Mutual Advisors LLC purchased a new position in Fluor during the 4th quarter worth approximately $863,000. CWM LLC lifted its stake in Fluor by 68.1% during the 4th quarter. CWM LLC now owns 91,639 shares of the construction company’s stock valued at $3,632,000 after acquiring an additional 37,112 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Fluor in the 4th quarter valued at $2,121,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Stock Down 4.5%

FLR stock opened at $49.37 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 firm’s fifty day moving average is $49.97 and its 200 day moving average is $48.16. The firm has a market cap of $6.90 billion, a PE ratio of 28.70, a P/E/G ratio of 1.64 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 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 firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the company posted $0.73 EPS. The company’s revenue was down 8.0% on a year-over-year basis. On average, research analysts forecast that Fluor Corporation will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

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