Nomura Asset Management Co. Ltd. Lowers Holdings in Fluor Co. (NYSE:FLR)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Fluor Co. (NYSE:FLR) by 60.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FLR. GAMMA Investing LLC raised its holdings in shares of Fluor by 10.3% in the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after purchasing an additional 213 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after acquiring an additional 241 shares in the last quarter. CIBC Asset Management Inc boosted its position in Fluor by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after purchasing an additional 264 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Fluor by 4.9% during the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock worth $286,000 after purchasing an additional 277 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Fluor by 43.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after buying an additional 287 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLR has been the subject of several recent research reports. DA Davidson lowered their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Barclays set a $40.00 price target on shares of Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a research report on Wednesday. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, KeyCorp increased their price target on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.29.

Fluor Trading Down 8.8 %

NYSE:FLR opened at $33.96 on Friday. Fluor Co. has a 52 week low of $33.85 and a 52 week high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The company has a market cap of $5.71 billion, a PE ratio of 2.79, a P/E/G ratio of 1.36 and a beta of 1.66. The business’s 50 day moving average is $40.65 and its two-hundred day moving average is $47.81.

Fluor (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. On average, analysts predict that Fluor Co. will post 2.5 EPS for the current year.

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.