Raymond James Financial Inc. Buys Shares of 266,222 Fluor Co. (NYSE:FLR)

Raymond James Financial Inc. purchased a new stake in shares of Fluor Co. (NYSE:FLR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 266,222 shares of the construction company’s stock, valued at approximately $13,130,000.

Several other institutional investors and hedge funds have also made changes to their positions in FLR. KBC Group NV raised its position in shares of Fluor by 11.2% during the 3rd quarter. KBC Group NV now owns 4,544 shares of the construction company’s stock valued at $217,000 after acquiring an additional 456 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Fluor by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after acquiring an additional 176 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Fluor by 0.7% during the 3rd quarter. Natixis Advisors LLC now owns 64,777 shares of the construction company’s stock valued at $3,091,000 after acquiring an additional 442 shares in the last quarter. Quest Partners LLC raised its position in shares of Fluor by 1,254.1% during the 3rd quarter. Quest Partners LLC now owns 16,155 shares of the construction company’s stock valued at $771,000 after acquiring an additional 14,962 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Fluor by 5.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 77,531 shares of the construction company’s stock valued at $3,699,000 after acquiring an additional 3,690 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Trading Up 2.9 %

NYSE:FLR opened at $38.29 on Thursday. Fluor Co. has a 1 year low of $34.01 and a 1 year high of $60.10. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 3.14, a PEG ratio of 1.36 and a beta of 1.73. The business has a fifty day moving average of $43.63 and a 200-day moving average of $48.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

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

Wall Street Analyst Weigh In

FLR has been the topic of several research reports. Citigroup dropped their price target on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a research note on Monday. DA Davidson lowered their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Truist Financial lowered their price objective on Fluor from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Barclays set a $40.00 price objective on Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and an average 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.