Fifth Third Bancorp Acquires 88,900 Shares of Fluor Corporation $FLR

Fifth Third Bancorp lifted its stake in Fluor Corporation (NYSE:FLR) by 4,900.8% during the 1st quarter, HoldingsChannel reports. The fund owned 90,714 shares of the construction company’s stock after buying an additional 88,900 shares during the period. Fifth Third Bancorp’s holdings in Fluor were worth $4,232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC grew its holdings in shares of Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after purchasing an additional 311 shares in the last quarter. Assetmark Inc. boosted its position in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Fluor in the 4th quarter valued at approximately $27,000. Larson Financial Group LLC grew its position in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after acquiring an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Fluor in the 4th quarter worth about $35,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Price Performance

FLR opened at $49.18 on Friday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. Fluor Corporation has a 12 month low of $37.62 and a 12 month high of $57.50. The company has a fifty day simple moving average of $49.00 and a 200 day simple moving average of $47.66. The stock has a market cap of $6.87 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.55 and a beta of 1.23.

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 the consensus estimate of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, research analysts expect that Fluor Corporation will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Citigroup decreased their price objective on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Robert W. Baird upped their price target on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $57.20.

Fluor 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.