Aristeia Capital L.L.C. Invests $722,000 in Fluor Corporation $FLR

Aristeia Capital L.L.C. acquired a new position in Fluor Corporation (NYSE:FLR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,219 shares of the construction company’s stock, valued at approximately $722,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC purchased a new stake in Fluor in the 4th quarter worth approximately $243,000. Nexpoint Asset Management L.P. grew its holdings in Fluor by 39.9% during the 4th quarter. Nexpoint Asset Management L.P. now owns 43,650 shares of the construction company’s stock valued at $1,730,000 after buying an additional 12,450 shares in the last quarter. AQR Arbitrage LLC purchased a new position in shares of Fluor in the fourth quarter valued at $9,658,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Fluor by 290.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 94,376 shares of the construction company’s stock valued at $3,740,000 after purchasing an additional 70,230 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Price Performance

Shares of NYSE FLR opened at $51.83 on Thursday. The business’s 50 day moving average price is $48.11 and its 200 day moving average price is $46.31. The firm has a market cap of $7.24 billion, a P/E ratio of 30.13, a P/E/G ratio of 1.57 and a beta of 1.25. Fluor Corporation has a 52 week low of $37.62 and a 52 week high of $57.50. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR) last issued its earnings results on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. Fluor’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. On average, sell-side analysts expect that Fluor Corporation will post 2.69 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird raised their price target on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. UBS Group reiterated a “buy” rating and set a $57.00 target price on shares of Fluor in a research report on Thursday, February 19th. Zacks Research lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. DA Davidson raised their price target on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $57.00 target price (down from $59.00) on shares of Fluor in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.33.

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.