Exchange Traded Concepts LLC Acquires 21,136 Shares of Fluor Corporation $FLR

Key Points

• Exchange Traded Concepts LLC increased its stake in Fluor Corporation by 35.4% during the second quarter, acquiring an additional 21,136 shares, bringing its total holdings to 80,811 shares valued at approximately $4.14 million.
• Fluor Corporation reported earnings per share of $0.43 for the last quarter, which fell short of the analyst consensus estimate of $0.59, alongside a revenue of $3.98 billion compared to expectations of $4.55 billion.
• A number of analysts have adjusted their price targets for Fluor, with UBS Group lowering its target from $60.00 to $56.00, reflecting a mixed outlook with ratings ranging from "buy" to "sell" among various analysts.

Exchange Traded Concepts LLC lifted its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 35.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,811 shares of the construction company's stock after acquiring an additional 21,136 shares during the period. Exchange Traded Concepts LLC's holdings in Fluor were worth $4,143,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC increased its position in shares of Fluor by 43.4% during the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Fluor by 21.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,066,704 shares of the construction company's stock valued at $109,847,000 after acquiring an additional 550,793 shares during the last quarter. Greenhouse Funds LLLP lifted its stake in Fluor by 1.2% in the first quarter. Greenhouse Funds LLLP now owns 2,467,385 shares of the construction company's stock valued at $88,382,000 after acquiring an additional 29,404 shares during the last quarter. AQR Capital Management LLC lifted its stake in Fluor by 145.1% in the first quarter. AQR Capital Management LLC now owns 1,625,776 shares of the construction company's stock valued at $57,276,000 after acquiring an additional 962,382 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Fluor by 4,097.7% in the first 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 period. Institutional investors own 88.07% of the company's stock.

Insiders Place Their Bets

In related news, Chairman David E. Constable sold 38,600 shares of the firm's stock in a transaction that occurred on 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 $41,272,526.97. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Fluor Price Performance

Shares of Fluor stock traded down $0.75 on Tuesday, reaching $44.00. The stock had a trading volume of 1,499,416 shares, compared to its average volume of 3,615,970. The business's 50 day moving average is $45.23 and its two-hundred day moving average is $42.21. The company has a market cap of $7.11 billion, a P/E ratio of 1.81 and a beta of 1.50. 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 Corporation has a 1 year low of $29.20 and a 1 year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last announced 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 company had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. The company's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, research analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial set a $52.00 price target on shares of Fluor in a research report on Monday, August 4th. Wall Street Zen raised shares of Fluor from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. UBS Group dropped their price target on shares of Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Zacks Research downgraded shares of Fluor from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Finally, Robert W. Baird dropped their target price on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fluor has a consensus rating of "Hold" and a consensus target price of $49.57.

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.