AIA Group Ltd Purchases New Stake in Fluor Co. (NYSE:FLR)

AIA Group Ltd purchased a new stake in Fluor Co. (NYSE:FLR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,800 shares of the construction company’s stock, valued at approximately $1,402,000.

Several other hedge funds have also recently bought and sold shares of the business. Federated Hermes Inc. raised its holdings in Fluor by 18.3% in the fourth quarter. Federated Hermes Inc. now owns 40,865 shares of the construction company’s stock valued at $1,601,000 after buying an additional 6,314 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fluor by 13.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,683 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 3,079 shares in the last quarter. Cornercap Investment Counsel Inc. grew its position in Fluor by 2.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 14,039 shares of the construction company’s stock valued at $550,000 after acquiring an additional 326 shares in the last quarter. Strs Ohio grew its position in Fluor by 3.1% in the fourth quarter. Strs Ohio now owns 16,600 shares of the construction company’s stock valued at $650,000 after acquiring an additional 500 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in Fluor in the fourth quarter valued at approximately $699,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of FLR opened at $39.34 on Friday. The business’s fifty day moving average price is $39.59 and its 200 day moving average price is $38.09. Fluor Co. has a 12-month low of $25.69 and a 12-month high of $43.24. The stock has a market capitalization of $6.69 billion, a PE ratio of 70.00, a price-to-earnings-growth ratio of 3.14 and a beta of 2.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60.

Fluor (NYSE:FLR) last posted its earnings results on Tuesday, February 20th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. Equities research analysts forecast that Fluor Co. will post 2.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Truist Financial reissued a “buy” rating and set a $46.00 price target on shares of Fluor in a research report on Monday, March 25th. KeyCorp initiated coverage on shares of Fluor in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Citigroup raised their price target on shares of Fluor from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.83.

About Fluor

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.