Fluor Corporation $FLR Shares Acquired by Brightline Capital Management LLC

Key Points

• Brightline Capital Management LLC increased its stake in Fluor Corporation by 2.3%, owning 535,000 shares valued at approximately $19.16 million, making it the firm's second-largest position.
• Institutional investors now own 88.07% of Fluor's stock, with various hedge funds like Dimensional Fund Advisors LP and Pacer Advisors Inc. significantly increasing their holdings during the first quarter.
• Fluor's recent earnings report showed a revenue decline of 5.9% year-over-year, with earnings per share of **$0.43**, missing analysts' estimates of **$0.59**.

Brightline Capital Management LLC grew its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 535,000 shares of the construction company's stock after purchasing an additional 12,000 shares during the quarter. Fluor makes up about 16.6% of Brightline Capital Management LLC's holdings, making the stock its 2nd largest position. Brightline Capital Management LLC owned 0.32% of Fluor worth $19,164,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FLR. Hurley Capital LLC purchased a new stake in shares of Fluor in the first quarter valued at about $29,000. Sterling Capital Management LLC raised its stake in shares of Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock worth $30,000 after purchasing an additional 408 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Fluor by 800.0% during the first 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 during the period. SBI Securities Co. Ltd. raised 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 buying an additional 760 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock worth $43,000 after acquiring an additional 666 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fluor 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 transaction, the insider owned 64,383 shares in the company, valued at $2,924,919.69. The trade was 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 firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman owned 870,627 shares in the company, 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 worth $4,870,182 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Fluor Trading Down 0.7%

Fluor stock traded down $0.29 during midday trading on Wednesday, reaching $41.13. The stock had a trading volume of 2,819,867 shares, compared to its average volume of 3,615,929. The stock has a market capitalization of $6.65 billion, a PE ratio of 1.69 and a beta of 1.43. 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 stock's 50-day simple moving average is $48.89 and its 200 day simple moving average is $41.99. Fluor Corporation has a twelve month low of $29.20 and a twelve month high of $60.10.

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). The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%.The firm'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. Analysts expect that Fluor Corporation will post 2.5 EPS for the current year.

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.