Parsons Capital Management Inc. RI Makes New Investment in Fluor Corporation $FLR

Parsons Capital Management Inc. RI purchased a new stake in shares of Fluor Corporation (NYSE:FLR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,000 shares of the construction company’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FLR. Hurley Capital LLC purchased a new stake in shares of Fluor in the 1st quarter worth $29,000. Strategic Investment Solutions Inc. IL lifted its stake in Fluor by 800.0% in the first quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company’s stock worth $32,000 after acquiring an additional 800 shares during the period. SBI Securities Co. Ltd. grew its holdings in Fluor by 222.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company’s stock worth $39,000 after acquiring an additional 760 shares in the last quarter. Versant Capital Management Inc increased its position in Fluor by 121.5% during the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company’s stock valued at $43,000 after purchasing an additional 666 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Fluor in the 1st quarter valued at about $46,000. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Citigroup dropped their target price on Fluor from $71.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. KeyCorp lowered Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 price target for the company. in a research report on Tuesday, July 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fluor in a research report on Saturday, September 27th. Finally, Truist Financial set a $52.00 target price on shares of Fluor in a report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.57.

Fluor Price Performance

Shares of NYSE FLR opened at $43.11 on Friday. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $6.97 billion, a PE ratio of 1.78 and a beta of 1.48. The business has a 50-day simple moving average of $43.14 and a two-hundred day simple moving average of $42.56.

Fluor (NYSE:FLR) last released its earnings results on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.16). Fluor had a return on equity of 9.27% and a net margin of 25.35%.The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.55 billion. During the same quarter last year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, equities analysts expect that Fluor Corporation 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.