M&T Bank Corp Invests $408,000 in Fluor Co. (NYSE:FLR)

M&T Bank Corp purchased a new position in shares of Fluor Co. (NYSE:FLR) during the 4th quarter, HoldingsChannel reports. The firm purchased 8,271 shares of the construction company’s stock, valued at approximately $408,000.

Several other hedge funds also recently modified their holdings of FLR. Westfield Capital Management Co. LP acquired a new position in shares of Fluor during the 3rd quarter worth $39,289,000. Cookson Peirce & Co. Inc. acquired a new position in Fluor in the 4th quarter valued at $24,849,000. Charles Schwab Investment Management Inc. grew its stake in Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the last quarter. Artemis Investment Management LLP grew its stake in Fluor by 49.1% in the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock valued at $61,792,000 after buying an additional 412,312 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Fluor by 42.1% in the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after buying an additional 254,904 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of research analyst reports. StockNews.com lowered shares of Fluor from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th. DA Davidson lowered their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Citigroup reduced their price target on shares of Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. KeyCorp increased their price target on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Barclays set a $40.00 price target on shares of Fluor and gave the company an “equal weight” rating in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

Fluor Price Performance

Shares of Fluor stock opened at $34.92 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The firm’s 50-day simple moving average is $44.98 and its 200-day simple moving average is $48.94. Fluor Co. has a twelve month low of $34.01 and a twelve month high of $60.10. The firm has a market cap of $5.89 billion, a P/E ratio of 2.86, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, research analysts expect that Fluor Co. will post 2.5 EPS for the current fiscal year.

Fluor Company Profile

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.