Fluor Corporation $FLR Shares Acquired by Greenhouse Funds LLLP

Key Points

• Greenhouse Funds LLLP increased its stake in Fluor Corporation by 1.2% during the 1st quarter, now holding approximately 2.47 million shares valued at $88.38 million.
• Several hedge funds, including AQR Capital Management, have significantly boosted their holdings in Fluor, showcasing growing institutional interest in the company.
• Fluor reported earnings that missed consensus estimates, posting $0.43 EPS against an expected $0.59, with a year-over-year revenue decline of 5.9%.

Greenhouse Funds LLLP raised its position in Fluor Corporation (NYSE:FLR - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,467,385 shares of the construction company's stock after buying an additional 29,404 shares during the quarter. Fluor comprises about 4.1% of Greenhouse Funds LLLP's portfolio, making the stock its 6th largest position. Greenhouse Funds LLLP owned about 1.50% of Fluor worth $88,382,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FLR. Cinctive Capital Management LP lifted its position in shares of Fluor by 36.7% during the 1st quarter. Cinctive Capital Management LP now owns 31,359 shares of the construction company's stock valued at $1,123,000 after acquiring an additional 8,417 shares during the period. AQR Capital Management LLC lifted its holdings in Fluor by 145.1% during 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 purchasing an additional 962,382 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Fluor by 6.3% in the first quarter. Advisors Asset Management Inc. now owns 92,403 shares of the construction company's stock worth $3,310,000 after buying an additional 5,473 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Fluor in the first quarter worth approximately $15,904,000. Finally, Energy Income Partners LLC grew its position in Fluor by 9.9% during the first quarter. Energy Income Partners LLC now owns 957,491 shares of the construction company's stock valued at $34,297,000 after acquiring an additional 85,974 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLR has been the subject of several recent research reports. KeyCorp lowered 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. Truist Financial set a $52.00 target price on Fluor in a research note on Monday, August 4th. Robert W. Baird cut their price target on Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Wall Street Zen raised Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Citigroup lowered their price target on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a report on Monday, August 4th. Four 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $49.57.

Insider Transactions at Fluor

In related news, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the transaction, the chairman owned 870,627 shares in the company, valued at $42,660,723. This trade represents a 4.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider owned 64,383 shares in the company, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,320 shares of company stock worth $4,870,182. Company insiders own 1.70% of the company's stock.

Fluor Price Performance

FLR opened at $42.79 on Thursday. The stock's 50-day moving average price is $47.88 and its 200 day moving average price is $41.81. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 1.76 and a beta of 1.50.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, sell-side analysts expect that Fluor Corporation will post 2.5 earnings per share for the current 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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