Meeder Asset Management Inc. Cuts Stock Holdings in Fluor Corporation $FLR

by · The Cerbat Gem

Meeder Asset Management Inc. lowered its position in shares of Fluor Corporation (NYSE:FLR – Free Report) by 59.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,704 shares of the construction company’s stock after selling 17,453 shares during the quarter. Meeder Asset Management Inc.’s holdings in Fluor were worth $492,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MTM Investment Management LLC acquired a new position in Fluor in the 2nd quarter valued at $26,000. IFP Advisors Inc purchased a new stake in shares of Fluor during the second quarter worth $27,000. Hantz Financial Services Inc. raised its position in shares of Fluor by 2,695.2% in the second quarter. Hantz Financial Services Inc. now owns 587 shares of the construction company’s stock valued at $30,000 after buying an additional 566 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of Fluor by 129.5% in the third quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock worth $30,000 after buying an additional 408 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Fluor during the second quarter worth about $33,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. DA Davidson increased their price objective on shares of Fluor from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 10th. UBS Group cut their price target on Fluor from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Fluor in a research note on Monday, December 29th. Truist Financial raised their target price on Fluor from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.57.

Read Our Latest Report on Fluor

Fluor Stock Up 0.6%

Shares of FLR opened at $44.55 on Tuesday. The company’s 50-day moving average price is $42.78 and its 200 day moving average price is $45.09. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $57.50. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a market cap of $7.18 billion, a P/E ratio of 2.27 and a beta of 1.35.

Fluor (NYSE:FLR – Get Free Report) last announced its quarterly earnings results on Friday, November 7th. The construction company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.24. Fluor had a net margin of 21.71% and a return on equity of 8.32%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. Fluor has set its FY 2025 guidance at 2.100-2.250 EPS. On average, sell-side analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current year.

About Fluor

(Free Report)

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.

See Also

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