Alliancebernstein L.P. Raises Stake in Fluor Co. (NYSE:FLR)

Alliancebernstein L.P. increased its position in shares of Fluor Co. (NYSE:FLR) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,093,998 shares of the construction company’s stock after purchasing an additional 107,327 shares during the period. Alliancebernstein L.P. owned 1.80% of Fluor worth $152,596,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after acquiring an additional 527 shares during the period. Golden State Wealth Management LLC bought a new position in Fluor in the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its holdings in Fluor by 43.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Fluor during the fourth quarter valued at approximately $57,000. Finally, Quarry LP lifted its holdings in shares of Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after buying an additional 942 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Trading Up 1.5 %

Shares of FLR stock opened at $36.34 on Wednesday. The company has a market cap of $6.11 billion, a PE ratio of 2.98, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. Fluor Co. has a 1 year low of $34.01 and a 1 year high of $60.10. The stock’s 50 day simple moving average is $41.42 and its two-hundred day simple moving average is $47.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Research analysts predict that Fluor Co. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FLR shares. StockNews.com upgraded shares of Fluor from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup reduced their target price on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. KeyCorp lifted their price objective on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird decreased their price objective on Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.71.

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.