Proficio Capital Partners LLC Makes New Investment in Fluor Co. (NYSE:FLR)

Proficio Capital Partners LLC bought a new stake in Fluor Co. (NYSE:FLR) in the fourth quarter, HoldingsChannel reports. The fund bought 59,332 shares of the construction company’s stock, valued at approximately $2,926,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Fluor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock worth $190,953,000 after buying an additional 51,018 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after purchasing an additional 457,220 shares during the period. Artemis Investment Management LLP lifted its holdings in Fluor by 49.1% in the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after purchasing an additional 412,312 shares during the period. Hennessy Advisors Inc. lifted its position in Fluor by 13.1% in the fourth quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock worth $51,322,000 after purchasing an additional 120,800 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Fluor by 24.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 973,753 shares of the construction company’s stock worth $46,458,000 after purchasing an additional 193,071 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays set a $40.00 target price on Fluor and gave the company an “equal weight” rating in a research note on Thursday, February 27th. DA Davidson dropped their target price on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Robert W. Baird decreased their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Monday. Finally, Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.71.

Fluor Stock Performance

NYSE FLR opened at $37.15 on Wednesday. The company’s 50 day moving average is $43.85 and its 200-day moving average is $48.57. The firm has a market cap of $6.27 billion, a P/E ratio of 3.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. Fluor Co. has a 12-month low of $34.01 and a 12-month high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR) last released its quarterly earnings data 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 the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Sell-side analysts predict that Fluor Co. will post 2.5 earnings per share for the current year.

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.