Geode Capital Management LLC Decreases Stock Position in Fluor Corporation $FLR

Geode Capital Management LLC lowered its stake in Fluor Corporation (NYSE:FLR) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,183,633 shares of the construction company’s stock after selling 23,957 shares during the period. Geode Capital Management LLC owned approximately 2.60% of Fluor worth $165,832,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Fluor by 8.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock valued at $174,077,000 after purchasing an additional 328,122 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Fluor during the 4th quarter valued at about $1,350,000. Goodman Financial Corp purchased a new position in Fluor during the 4th quarter valued at about $7,610,000. Hudson Bay Capital Management LP increased its holdings in Fluor by 310.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 98,107 shares of the construction company’s stock valued at $4,127,000 after purchasing an additional 74,231 shares during the period. Finally, Mutual Advisors LLC purchased a new position in Fluor during the 4th quarter valued at about $863,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 1.8%

FLR stock opened at $50.23 on Thursday. Fluor Corporation has a fifty-two week low of $37.62 and a fifty-two week high of $57.50. The business’s 50 day moving average price is $47.48 and its two-hundred day moving average price is $45.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company posted $0.73 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, analysts forecast that Fluor Corporation will post 2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLR. DA Davidson boosted their price target on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Citigroup reduced their price target on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, May 11th. UBS Group restated a “buy” rating and set a $57.00 price target on shares of Fluor in a report on Thursday, February 19th. Robert W. Baird upped their target price on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, Zacks Research downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus price target of $53.33.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.