Fluor Co. (NYSE:FLR) Stake Reduced by Nomura Asset Management Co. Ltd.

by · The Cerbat Gem

Nomura Asset Management Co. Ltd. trimmed its stake in Fluor Co. (NYSE:FLR – Free Report) by 60.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,270 shares of the construction company’s stock after selling 1,949 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Fluor were worth $63,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cookson Peirce & Co. Inc. bought a new stake in Fluor in the 4th quarter valued at about $24,849,000. Artemis Investment Management LLP boosted its position in shares of Fluor by 49.1% during the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after buying an additional 412,312 shares during the period. Raymond James Financial Inc. bought a new position in Fluor in the 4th quarter worth approximately $13,130,000. Principal Financial Group Inc. increased its position in Fluor by 42.1% in the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after acquiring an additional 254,904 shares during the period. Finally, Vanguard Group Inc. raised its stake in Fluor by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company’s stock valued at $872,871,000 after acquiring an additional 168,822 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Trading Down 8.8 %

Shares of NYSE:FLR opened at $33.96 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 2.79, a PEG ratio of 1.36 and a beta of 1.66. Fluor Co. has a 1-year low of $33.85 and a 1-year high of $60.10. The company has a 50 day moving average price of $40.65 and a 200 day moving average price of $47.81.

Fluor (NYSE:FLR – Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. On average, research analysts anticipate that Fluor Co. will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLR. StockNews.com raised Fluor from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup lowered their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp raised their price objective on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird decreased their price target on Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.29.

Read Our Latest Analysis on Fluor

Fluor Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding FLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fluor Co. (NYSE:FLR – Free Report).