Fluor Corporation $FLR Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Fluor Corporation by 32.0%, selling 429,912 shares and now holding approximately 0.56% of the company, worth around $32.8 million.
• Fluor reported a net loss of $0.16 per share in its latest quarterly earnings, falling short of analysts' estimates, with revenue decreasing 5.9% year-over-year.
• Analysts have recently adjusted their price targets for Fluor, with low ratings being issued; one firm downgraded the stock from "hold" to "sell" and several target prices were lowered significantly.

Invesco Ltd. lessened its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 915,591 shares of the construction company's stock after selling 429,912 shares during the period. Invesco Ltd. owned 0.56% of Fluor worth $32,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Benjamin Edwards Inc. raised its holdings in shares of Fluor by 9.5% during the 1st quarter. Benjamin Edwards Inc. now owns 26,863 shares of the construction company's stock worth $962,000 after acquiring an additional 2,332 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Fluor during the 1st quarter worth $5,601,000. Cynosure Group LLC purchased a new position in shares of Fluor during the 1st quarter worth $347,000. Citigroup Inc. raised its holdings in shares of Fluor by 22.5% during the 1st quarter. Citigroup Inc. now owns 1,098,784 shares of the construction company's stock worth $39,358,000 after acquiring an additional 202,005 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Fluor during the 1st quarter worth $297,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Up 1.5%

Shares of Fluor stock traded up $0.6020 on Friday, reaching $41.6420. 1,919,443 shares of the company were exchanged, compared to its average volume of 3,604,415. Fluor Corporation has a 1-year low of $29.20 and a 1-year high of $60.10. The company has a market cap of $6.73 billion, a P/E ratio of 1.72 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.62. The stock's 50 day moving average price is $49.38 and its 200-day moving average price is $42.18.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FLR. UBS Group reduced their price objective on shares of Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Citigroup reduced their price objective on shares of Fluor from $71.00 to $57.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Truist Financial set a $52.00 price objective on shares of Fluor in a report on Monday, August 4th. Wall Street Zen lowered shares of Fluor from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Robert W. Baird reduced their price objective on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $49.57.

Insider Transactions at Fluor

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

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.