Contravisory Investment Management Inc. Has $197,000 Stock Position in Fluor Corporation $FLR

Key Points

• Contravisory Investment Management Inc. has significantly reduced its stake in Fluor Corporation by 73.1%, now holding 3,850 shares valued at $197,000.
• Fluor's recent earnings report showed a miss on EPS and revenue estimates, with a quarterly revenue drop of 5.9% year-over-year.
• Wall Street analysts have varied opinions on Fluor, with an average rating of "Hold" and a consensus price target of $49.57.

Contravisory Investment Management Inc. lowered its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 73.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,850 shares of the construction company's stock after selling 10,480 shares during the quarter. Contravisory Investment Management Inc.'s holdings in Fluor were worth $197,000 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 Fluor by 222.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock valued at $39,000 after acquiring an additional 760 shares in the last quarter. Versant Capital Management Inc increased its position in Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock valued at $43,000 after acquiring an additional 666 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Fluor in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLR. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. KeyCorp cut shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 15th. Robert W. Baird lowered their price objective on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Zacks Research cut shares of Fluor from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Finally, Truist Financial set a $52.00 price target on shares of Fluor in a research report on Monday, August 4th. Four research 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $49.57.

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 38,600 shares of the company's 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 transaction, the chairman directly owned 792,027 shares in the company, valued at approximately $41,272,526.97. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company's stock.

Fluor Price Performance

Shares of FLR opened at $42.38 on Friday. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 1.75 and a beta of 1.50. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10. The company's fifty day simple moving average is $45.57 and its 200 day simple moving average is $42.02. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.18.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share 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 analyst estimates of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%.Fluor's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. On average, research analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current fiscal 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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