ExodusPoint Capital Management LP Makes New Investment in Fluor Co. (NYSE:FLR)

ExodusPoint Capital Management LP acquired a new stake in shares of Fluor Co. (NYSE:FLR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 154,978 shares of the construction company’s stock, valued at approximately $7,644,000. ExodusPoint Capital Management LP owned about 0.09% of Fluor at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after purchasing an additional 527 shares during the period. Golden State Wealth Management LLC purchased a new position in Fluor during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its stake in Fluor by 43.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after acquiring an additional 287 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Fluor in the fourth quarter worth $57,000. Finally, Quarry LP raised its holdings in shares of Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

NYSE:FLR opened at $31.02 on Friday. The company has a fifty day moving average of $40.18 and a two-hundred day moving average of $47.71. Fluor Co. has a fifty-two week low of $29.75 and a fifty-two week high of $60.10. The stock has a market capitalization of $5.21 billion, a PE ratio of 2.55, a P/E/G ratio of 1.36 and a beta of 1.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

Fluor (NYSE:FLR) last posted its quarterly earnings data 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). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. As a group, research analysts forecast that Fluor Co. will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FLR. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. DA Davidson reduced their price target on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Citigroup lowered their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. KeyCorp cut their target price on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a report on Friday. Finally, Robert W. Baird dropped their price target on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

Fluor Company 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.