Clearline Capital LP Buys Shares of 860,920 Fluor Corporation $FLR

Key Points

• Clearline Capital LP acquired a new stake in Fluor Corporation, purchasing 860,920 shares valued at approximately $30.8 million, making it the 4th largest holding for the firm.
• Several institutional investors, including the New York State Teachers Retirement System, have also increased their stakes in Fluor, with 88.07% of the stock now owned by institutional investors.
• Fluor's recent earnings report showed $0.43 earnings per share, missing forecasts, as revenue declined by 5.9% from the previous year.

Clearline Capital LP acquired a new stake in Fluor Corporation (NYSE:FLR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 860,920 shares of the construction company's stock, valued at approximately $30,838,000. Fluor accounts for approximately 1.9% of Clearline Capital LP's holdings, making the stock its 4th biggest holding. Clearline Capital LP owned about 0.52% of Fluor as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of FLR. Algert Global LLC acquired a new position in Fluor in the 4th quarter valued at $1,060,000. Baird Financial Group Inc. increased its stake in Fluor by 27.6% in the 4th quarter. Baird Financial Group Inc. now owns 13,838 shares of the construction company's stock valued at $682,000 after buying an additional 2,997 shares during the period. Cetera Investment Advisers increased its stake in Fluor by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 16,678 shares of the construction company's stock valued at $823,000 after buying an additional 577 shares during the period. Ethic Inc. acquired a new position in Fluor in the 4th quarter valued at $247,000. Finally, Ensign Peak Advisors Inc increased its stake in Fluor by 5.7% in the 4th quarter. Ensign Peak Advisors Inc now owns 45,824 shares of the construction company's stock valued at $2,260,000 after buying an additional 2,490 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLR. Zacks Research cut shares of Fluor from a "hold" rating to a "strong sell" rating in a research note on Friday, August 22nd. UBS Group lowered their price target on shares of Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Truist Financial set a $52.00 price target on shares of Fluor in a research note on Monday, August 4th. Citigroup lowered their price target 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. Finally, Robert W. Baird lowered their price target 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 investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $49.57.

Insider Buying and Selling

In related news, Chairman David E. Constable sold 38,600 shares of the stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company's stock.

Fluor Price Performance

NYSE FLR traded down $0.24 during trading hours on Friday, reaching $41.07. The company's stock had a trading volume of 2,444,550 shares, compared to its average volume of 3,597,176. The stock has a market cap of $6.64 billion, a PE ratio of 1.69 and a beta of 1.50. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The company's 50-day moving average is $46.65 and its two-hundred day moving average is $41.88. 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 (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). The business 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%. Fluor's revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. Analysts forecast 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.