Fluor Corporation $FLR Shares Bought by Pacific Heights Asset Management LLC

Key Points

• Pacific Heights Asset Management LLC increased its stake in Fluor Corporation by 20% during Q2, now owning 240,000 shares valued at approximately $12.3 million.
• Fluor reported a net loss of $0.16 per share in its recent quarterly earnings, missing the expected estimate, with a revenue of $3.98 billion, down 5.9% from last year.
• Brokerage ratings for Fluor vary, with some analysts issuing sell ratings while others maintain a hold rating, reflecting mixed sentiments about the stock's future performance.

Pacific Heights Asset Management LLC boosted its holdings in shares of Fluor Corporation (NYSE:FLR - Free Report) by 20.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 240,000 shares of the construction company's stock after buying an additional 40,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.15% of Fluor worth $12,305,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fluor by 170.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,872 shares of the construction company's stock valued at $927,000 after purchasing an additional 16,306 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Fluor by 28.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 111,729 shares of the construction company's stock valued at $4,002,000 after purchasing an additional 24,848 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Fluor by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 20,099 shares of the construction company's stock valued at $719,000 after purchasing an additional 545 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Fluor by 84.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,951 shares of the construction company's stock valued at $571,000 after purchasing an additional 7,306 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Fluor by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after purchasing an additional 701 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Trading Up 1.8%

Shares of FLR stock opened at $48.75 on Wednesday. The company's 50-day moving average price is $43.01 and its 200-day moving average price is $43.41. 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 stock has a market cap of $7.88 billion, a price-to-earnings ratio of 2.01 and a beta of 1.48. 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 announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share 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 net margin of 25.35% and a return on equity of 9.27%. The company's revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, equities analysts predict that Fluor Corporation will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on FLR. Wall Street Zen cut shares of Fluor from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. Zacks Research raised shares of Fluor from a "strong sell" rating to a "hold" rating in a research note on Friday, October 3rd. KeyCorp cut shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fluor in a research note on Tuesday, October 14th. Finally, Robert W. Baird lowered their target price 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Fluor has a consensus rating of "Hold" and an average target price of $49.43.

Fluor 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.

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