Bayforest Capital Ltd Has $952,000 Stake in Fluor Corporation $FLR

Key Points

• Bayforest Capital Ltd increased its holdings in Fluor Corporation by 140.6% in the first quarter, acquiring an additional 15,536 shares, bringing its total to 26,589 shares valued at $952,000.
• Several research analysts have lowered their price objectives for Fluor, with the consensus rating now being "Hold" and an average target price of $49.57.
• Fluor recently reported $0.43 EPS for the quarter, missing estimates, with a revenue decline of 5.9% year-over-year, prompting a forecast of 1.950-2.15 EPS for FY 2025.

Bayforest Capital Ltd increased its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 140.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,589 shares of the construction company's stock after purchasing an additional 15,536 shares during the quarter. Bayforest Capital Ltd's holdings in Fluor were worth $952,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hurley Capital LLC acquired a new stake in shares of Fluor during the 1st quarter worth about $29,000. Strategic Investment Solutions Inc. IL increased its position in shares of Fluor by 800.0% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company's stock worth $32,000 after purchasing an additional 800 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Fluor by 222.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock worth $39,000 after purchasing an additional 760 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Fluor by 121.5% during the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock worth $43,000 after purchasing an additional 666 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Fluor during the 1st quarter worth about $46,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FLR shares. Truist Financial set a $52.00 price objective on shares of Fluor in a research report on Monday, August 4th. Citigroup reduced their target price on shares of Fluor from $71.00 to $57.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Zacks Research lowered shares of Fluor from a "hold" rating to a "strong sell" rating in a research note on Friday, August 22nd. KeyCorp lowered shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a research note on Tuesday, July 15th. Finally, Robert W. Baird reduced their target price on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fluor has an average rating of "Hold" and an average target price of $49.57.

Insider Activity at Fluor

In other news, Chairman David E. Constable sold 38,600 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the sale, the chairman owned 792,027 shares of the company's stock, valued at $41,272,526.97. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Fluor Trading Down 0.6%

NYSE FLR traded down $0.24 during trading on Friday, reaching $41.07. 2,444,763 shares of the stock traded hands, compared to its average volume of 3,600,527. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 1.69 and a beta of 1.50. The stock's 50-day moving average price is $46.65 and its 200 day moving average price is $41.88. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10.

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

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.