Brandywine Global Investment Management LLC Invests $1.86 Million in Fluor Corporation $FLR

Key Points

• Brandywine Global Investment Management LLC has invested approximately $1.86 million in Fluor Corporation, acquiring 51,896 shares in the first quarter.
• Fluor's earnings exceeded none of the analyst estimates, reporting an EPS of $0.43 with a significant revenue miss at $3.98 billion, down from the projected $4.55 billion.
• Recent analyst ratings show mixed sentiments, with Citigroup setting a new price target of $57.00 while UBS lowered its target to $56.00, reflecting uncertainty in the stock's performance.

Brandywine Global Investment Management LLC acquired a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 51,896 shares of the construction company's stock, valued at approximately $1,859,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in Fluor by 196.2% during the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after purchasing an additional 408 shares in the last quarter. Hurley Capital LLC purchased a new stake in Fluor during the 1st quarter worth about $29,000. Strategic Investment Solutions Inc. IL increased its position in 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 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. Finally, Versant Capital Management Inc increased its position in 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. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

FLR has been the subject of a number of recent research reports. Citigroup dropped their price objective on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Wall Street Zen cut Fluor from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. UBS Group lowered their price target on Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Truist Financial set a $52.00 price target on Fluor in a report on Monday, August 4th. Finally, Robert W. Baird lowered their price target on Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a report on Monday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $49.57.

Fluor Stock Up 0.7%

Shares of NYSE:FLR opened at $42.16 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62. Fluor Corporation has a 1 year low of $29.20 and a 1 year high of $60.10. The stock has a market capitalization of $6.82 billion, a P/E ratio of 1.74 and a beta of 1.43. The stock has a 50-day simple moving average of $49.78 and a 200-day simple moving average of $42.23.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results 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 return on equity of 9.27% and a net margin of 25.35%. The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.55 billion. During the same quarter in the previous 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. Equities analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current year.

Insider Transactions at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares in the company, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David E. Constable sold 38,600 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total value of $2,011,446.00. Following the transaction, the chairman directly owned 792,027 shares in the company, valued at $41,272,526.97. This trade represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,320 shares of company stock valued at $4,870,182 in the last quarter. Company insiders own 1.70% of the company's stock.

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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