Louisiana State Employees Retirement System Invests $2.18 Million in Fluor Corporation $FLR

Louisiana State Employees Retirement System bought a new position in Fluor Corporation (NYSE:FLR) during the first quarter, according to its most recent filing with the SEC. The firm bought 46,700 shares of the construction company’s stock, valued at approximately $2,179,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLR. Starboard Value LP bought a new position in shares of Fluor in the fourth quarter valued at $205,732,000. Rubric Capital Management LP bought a new stake in shares of Fluor during the second quarter worth about $205,080,000. AQR Capital Management LLC raised its holdings in shares of Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after acquiring an additional 3,203,712 shares during the last quarter. Sourcerock Group LLC acquired a new stake in shares of Fluor in the 2nd quarter worth about $85,327,000. Finally, Ameriprise Financial Inc. lifted its position in Fluor by 361.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock valued at $77,289,000 after acquiring an additional 1,180,838 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of a number of recent research reports. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial reaffirmed a “buy” rating and set a $57.00 target price (down from $59.00) on shares of Fluor in a research report on Monday, May 11th. Zacks Research downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Robert W. Baird raised their price objective on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Citigroup cut their price objective on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Fluor Stock Performance

Shares of FLR stock opened at $53.63 on Tuesday. 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 firm has a market cap of $7.49 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 1.69 and a beta of 1.25. Fluor Corporation has a 52 week low of $37.62 and a 52 week high of $57.50. The firm’s 50-day simple moving average is $48.88 and its two-hundred day simple moving average is $46.88.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. As a group, equities analysts forecast that Fluor Corporation will post 2.64 earnings per share for the current year.

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.