Quantitative Investment Management LLC Invests $470,000 in Fluor Corporation $FLR

Key Points

• Quantitative Investment Management LLC acquired 13,125 shares of Fluor Corporation valued at approximately $470,000 in the first quarter, contributing to the institutional ownership of 88.07% in the company.
• Insiders at Fluor, including Alvin C. Collins III and Chairman David E. Constable, sold a total of 59,720 shares recently, indicating a decrease in their positions amid ongoing institutional interest.
• Fluor's earnings report revealed a miss in expected earnings per share, showing $0.43 compared to the consensus estimate of $0.59, leading to analysts adjusting price targets for the stock.

Quantitative Investment Management LLC purchased a new stake in shares of Fluor Corporation (NYSE:FLR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,125 shares of the construction company's stock, valued at approximately $470,000.

A number of other hedge funds have also recently added to or reduced their stakes in FLR. New York State Teachers Retirement System lifted its stake in Fluor by 10.7% in the first quarter. New York State Teachers Retirement System now owns 192,218 shares of the construction company's stock valued at $6,885,000 after acquiring an additional 18,603 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Fluor by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after purchasing an additional 701 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Fluor by 59.6% during the 1st quarter. Vontobel Holding Ltd. now owns 18,004 shares of the construction company's stock valued at $645,000 after purchasing an additional 6,720 shares in the last quarter. Mengis Capital Management Inc. raised its holdings in shares of Fluor by 21.9% during the 1st quarter. Mengis Capital Management Inc. now owns 37,333 shares of the construction company's stock valued at $1,337,000 after purchasing an additional 6,710 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Fluor by 28.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 111,729 shares of the construction company's stock valued at $4,002,000 after purchasing an additional 24,848 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Insiders Place Their Bets

In related news, insider Alvin C. Collins III sold 18,920 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider directly owned 64,383 shares in the company, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the completion of the transaction, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock valued at $4,870,182 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Fluor Stock Performance

Shares of NYSE FLR traded down $0.59 during mid-day trading on Friday, hitting $41.02. The company had a trading volume of 2,403,618 shares, compared to its average volume of 3,603,898. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.62. The business's 50-day simple moving average is $48.54 and its 200-day simple moving average is $41.92. Fluor Corporation has a 12 month low of $29.20 and a 12 month high of $60.10. The firm has a market cap of $6.63 billion, a P/E ratio of 1.69 and a beta of 1.43.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.16). Fluor had a net margin of 25.35% and a return on equity of 9.27%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The firm's quarterly revenue 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, analysts predict that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group decreased their target price on Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. KeyCorp cut Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price for the company. in a research report on Tuesday, July 15th. Wall Street Zen raised Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Finally, Truist Financial set a $52.00 price objective on Fluor in a research note on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Fluor has an average rating of "Hold" and an average target price of $49.57.

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.