Fluor (NYSE:FLR) Hits New 52-Week Low – Here’s Why

Fluor Co. (NYSE:FLR) shares hit a new 52-week low during trading on Monday . The company traded as low as $34.76 and last traded at $35.28, with a volume of 130845 shares. The stock had previously closed at $36.14.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of recent research reports. Barclays set a $40.00 target price on Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Truist Financial lowered their target price on Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Citigroup lowered their target price on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. DA Davidson lowered their price target on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.71.

Fluor Stock Up 3.9 %

The business has a fifty day simple moving average of $45.25 and a 200 day simple moving average of $49.04. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 2.92, a PEG ratio of 1.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. As a group, equities analysts forecast that Fluor Co. will post 2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluor

A number of hedge funds have recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Fluor in the fourth quarter valued at approximately $484,000. Exchange Traded Concepts LLC increased its holdings in shares of Fluor by 291.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after purchasing an additional 32,472 shares during the last quarter. Aequim Alternative Investments LP increased its holdings in shares of Fluor by 6.0% in the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after purchasing an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Fluor by 139.1% in the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock valued at $819,000 after purchasing an additional 9,992 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after purchasing an additional 457,220 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.