Bayforest Capital Ltd Has $386,000 Position in Fluor Corporation $FLR

Key Points

• Bayforest Capital Ltd reduced its stake in Fluor Corporation (NYSE:FLR) by 71.7%, owning only 7,521 shares worth approximately $386,000 after selling 19,068 shares in the second quarter.
• Several institutional investors, including Pacer Advisors Inc. and Hotchkis & Wiley Capital Management LLC, significantly increased their holdings in Fluor, resulting in institutional investors owning 88.07% of the company's stock.
• Fluor recently reported a loss in earnings per share of $0.43 for the last quarter, missing estimates by $0.16, with revenues also down 5.9% compared to the previous year.

Bayforest Capital Ltd lowered its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 71.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,521 shares of the construction company's stock after selling 19,068 shares during the period. Bayforest Capital Ltd's holdings in Fluor were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLR. Pacer Advisors Inc. lifted its stake in shares of Fluor by 4,097.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company's stock valued at $47,723,000 after purchasing an additional 1,300,568 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Fluor by 43.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,646,837 shares of the construction company's stock worth $130,630,000 after acquiring an additional 1,104,350 shares during the period. AQR Capital Management LLC raised its holdings in Fluor by 145.1% in the 1st quarter. AQR Capital Management LLC now owns 1,625,776 shares of the construction company's stock worth $57,276,000 after acquiring an additional 962,382 shares during the period. Clearline Capital LP bought a new position in Fluor in the 1st quarter worth $30,838,000. Finally, Nuveen LLC bought a new position in Fluor in the 1st quarter worth $22,308,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Fluor from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Wall Street Zen downgraded shares of Fluor from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fluor in a report on Tuesday. Citigroup dropped their target price on shares of Fluor from $71.00 to $57.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Finally, KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $49.43.

Fluor Stock Performance

NYSE:FLR opened at $50.70 on Thursday. The firm's 50-day moving average is $42.60 and its 200-day moving average is $42.99. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 2.09 and a beta of 1.48.

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

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