Alliancebernstein L.P. Acquires 107,327 Shares of Fluor Co. (NYSE:FLR)

Alliancebernstein L.P. grew its holdings in Fluor Co. (NYSE:FLR) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,093,998 shares of the construction company’s stock after purchasing an additional 107,327 shares during the period. Alliancebernstein L.P.’s holdings in Fluor were worth $152,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Fluor by 10.3% in the fourth quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after purchasing an additional 213 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Fluor by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after buying an additional 241 shares during the period. CIBC Asset Management Inc grew its stake in Fluor by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after acquiring an additional 264 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Fluor by 4.9% during the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after acquiring an additional 277 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Fluor by 43.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after purchasing an additional 287 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FLR. Barclays set a $40.00 target price on Fluor and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. DA Davidson reduced their price target on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Robert W. Baird cut their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus price target of $54.71.

Fluor Price Performance

NYSE FLR opened at $36.34 on Wednesday. Fluor Co. has a 12-month low of $34.01 and a 12-month high of $60.10. The firm’s fifty day simple moving average is $41.42 and its two-hundred day simple moving average is $47.98. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $6.11 billion, a P/E ratio of 2.98, a P/E/G ratio of 1.36 and a beta of 1.73.

Fluor (NYSE:FLR) last announced its 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). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Analysts forecast that Fluor Co. will post 2.5 EPS for the current fiscal year.

Fluor Profile

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.