Alliancebernstein L.P. Sells 150,549 Shares of Fluor Corporation $FLR

Key Points

• Alliancebernstein L.P. has reduced its stake in Fluor Corporation by 4.9%, selling 150,549 shares and retaining approximately 1.79% of the company, valued at $105.4 million.
• Fluor's quarterly earnings were disappointing, reporting earnings per share (EPS) of $0.43, which fell short of the analysts' consensus estimate of $0.59, with revenues also underperforming at $3.98 billion.
• Several analysts have adjusted their price targets for Fluor stocks, with Citigroup lowering its target from $71.00 to $57.00 while maintaining a "buy" rating, reflecting mixed investor sentiment.

Alliancebernstein L.P. trimmed its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,943,449 shares of the construction company's stock after selling 150,549 shares during the period. Alliancebernstein L.P. owned approximately 1.79% of Fluor worth $105,434,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Xponance Inc. raised its position in shares of Fluor by 1.5% during the first quarter. Xponance Inc. now owns 24,597 shares of the construction company's stock valued at $881,000 after buying an additional 357 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Fluor by 3.3% during the first quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company's stock valued at $400,000 after buying an additional 359 shares during the last quarter. Callan Family Office LLC raised its position in shares of Fluor by 4.4% during the first quarter. Callan Family Office LLC now owns 9,185 shares of the construction company's stock valued at $329,000 after buying an additional 389 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Fluor by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 48,000 shares of the construction company's stock worth $1,719,000 after purchasing an additional 400 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in Fluor by 1.2% in the first quarter. State of Michigan Retirement System now owns 41,097 shares of the construction company's stock worth $1,472,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Stock Performance

NYSE FLR opened at $41.50 on Friday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 1.71 and a beta of 1.50. The company has a 50 day moving average of $47.48 and a 200-day moving average of $41.81. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.18. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. The business's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. On average, equities analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alvin C. Collins III sold 18,920 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares of the company's stock, valued at $2,924,919.69. This trade 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 at the SEC website. Also, Chairman David E. Constable sold 38,600 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the completion of the sale, the chairman directly owned 792,027 shares of the company's stock, valued at approximately $41,272,526.97. This represents a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 98,320 shares of company stock valued at $4,870,182. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on FLR. Citigroup dropped their price target on shares of Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, August 4th. KeyCorp lowered shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target for the company. in a research report on Tuesday, July 15th. UBS Group dropped their price target on shares of Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Zacks Research lowered shares of Fluor from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $49.57.

Fluor Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.