Fluor Co. (NYSE:FLR) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in shares of Fluor Co. (NYSE:FLR) by 230.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 59,403 shares of the construction company’s stock after purchasing an additional 41,428 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Fluor were worth $2,587,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLR. Raymond James & Associates raised its holdings in shares of Fluor by 9.7% during the fourth quarter. Raymond James & Associates now owns 109,179 shares of the construction company’s stock valued at $4,277,000 after acquiring an additional 9,653 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Fluor by 8.0% during the 4th quarter. State of Alaska Department of Revenue now owns 18,399 shares of the construction company’s stock valued at $720,000 after buying an additional 1,355 shares during the period. State of Michigan Retirement System grew its holdings in shares of Fluor by 19.2% during the 4th quarter. State of Michigan Retirement System now owns 40,897 shares of the construction company’s stock valued at $1,602,000 after acquiring an additional 6,600 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Fluor during the fourth quarter worth $64,000. Finally, New York State Teachers Retirement System boosted its position in Fluor by 1.0% during the fourth quarter. New York State Teachers Retirement System now owns 169,870 shares of the construction company’s stock valued at $6,654,000 after purchasing an additional 1,659 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Performance

Fluor stock traded down $0.37 during midday trading on Wednesday, hitting $46.14. The company’s stock had a trading volume of 542,810 shares, compared to its average volume of 1,578,091. The company has a 50-day moving average price of $45.49 and a two-hundred day moving average price of $41.59. Fluor Co. has a 1-year low of $32.31 and a 1-year high of $51.64. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 2.55 and a beta of 1.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.67.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. As a group, sell-side analysts predict that Fluor Co. will post 2.9 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on FLR. Robert W. Baird lifted their price target on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a report on Wednesday, July 17th. Citigroup boosted their price objective on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Truist Financial upped their price target on Fluor from $54.00 to $61.00 and gave the company a “buy” rating in a report on Monday. Finally, Barclays raised their target price on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.00.

About Fluor

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.