Public Employees Retirement System of Ohio Grows Stock Holdings in Fluor Corporation $FLR

Public Employees Retirement System of Ohio raised its stake in Fluor Corporation (NYSE:FLR) by 524.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 23,430 shares of the construction company’s stock after buying an additional 19,680 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Fluor were worth $1,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cloverfields Capital Group LP boosted its stake in shares of Fluor by 20.8% during the 1st 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. purchased a new position in Fluor in the 1st quarter valued at approximately $1,004,000. First Trust Advisors LP raised its holdings in Fluor by 34.9% during the first 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 last quarter. PNC Financial Services Group Inc. boosted 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 purchasing an additional 1,087 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings 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 purchasing an additional 813 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FLR shares. Robert W. Baird raised their price target on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Citigroup cut their target price 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. Truist Financial upped their price target on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fluor has a consensus rating of “Hold” and an average price target of $57.20.

Fluor Stock Performance

NYSE FLR opened at $50.19 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $54.79. The business has a fifty day moving average of $50.36 and a 200-day moving average of $48.30.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 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 company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter in the prior year, the business posted $0.73 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts predict that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.

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.