Legato Capital Management LLC Buys Shares of 16,339 Fluor Corporation $FLR

Legato Capital Management LLC bought a new stake in shares of Fluor Corporation (NYSE:FLR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,339 shares of the construction company’s stock, valued at approximately $648,000.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its stake in Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after purchasing an additional 311 shares during the period. Assetmark Inc. raised its stake in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after purchasing an additional 483 shares during the period. Larson Financial Group LLC raised its stake in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after purchasing an additional 734 shares during the period. Banque Transatlantique SA raised its stake in Fluor by 312.5% during the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after purchasing an additional 625 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in Fluor during the 4th quarter valued at $35,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson boosted their target price on shares of Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price target (down from $59.00) on shares of Fluor in a research note on Monday, May 11th. Robert W. Baird upped their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating and issued a $57.00 price target on shares of Fluor in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Fluor Trading Up 4.3%

NYSE FLR opened at $46.80 on Wednesday. Fluor Corporation has a 1-year low of $37.62 and a 1-year high of $57.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $6.54 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The firm’s fifty day simple moving average is $47.24 and its 200-day simple moving average is $45.62.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the company posted $0.73 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fluor Corporation will post 2.69 earnings per share for the current fiscal year.

About Fluor

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.