Aster Capital Management DIFC Ltd Grows Stake in Fluor Corporation $FLR

Aster Capital Management DIFC Ltd raised its position in shares of Fluor Corporation (NYSE:FLR) by 1,941.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,841 shares of the construction company’s stock after purchasing an additional 11,261 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Fluor were worth $469,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FLR. Rubric Capital Management LP bought a new stake in Fluor in the 2nd quarter worth approximately $205,080,000. Sourcerock Group LLC bought a new stake in Fluor in the 2nd quarter worth approximately $85,327,000. Ameriprise Financial Inc. increased its stake in Fluor by 361.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company’s stock worth $77,289,000 after acquiring an additional 1,180,838 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Fluor in the 4th quarter worth approximately $39,546,000. Finally, Balyasny Asset Management L.P. increased its stake in Fluor by 90.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,586,492 shares of the construction company’s stock worth $81,339,000 after acquiring an additional 755,337 shares during the last quarter. Institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

NYSE:FLR opened at $50.64 on Wednesday. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.56 and a beta of 1.25. Fluor Corporation has a 1 year low of $37.62 and a 1 year high of $57.50. The business has a 50 day simple moving average of $48.01 and a 200-day simple moving average of $46.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78.

Fluor (NYSE:FLR) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. Fluor’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 earnings per share. Equities analysts forecast that Fluor Corporation will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FLR. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price objective (down from $59.00) on shares of Fluor in a research note on Monday, May 11th. DA Davidson raised their price objective on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, 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. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.