Fluor Corporation $FLR Shares Sold by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. decreased its stake in Fluor Corporation by 7.5%, selling 16,540 shares during the second quarter, leaving it with 205,427 shares valued at approximately $10.5 million.
• Fluor's quarterly earnings report revealed an EPS of $0.43, which fell short of analyst expectations of $0.59, indicating a significant decline in revenue year-over-year.
• Institutional investors currently own 88.07% of Fluor's stock, with various funds like AQR Capital Management and Pacer Advisors significantly increasing their holdings in the first quarter.

Harbor Capital Advisors Inc. lowered its position in Fluor Corporation (NYSE:FLR - Free Report) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 205,427 shares of the construction company's stock after selling 16,540 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.12% of Fluor worth $10,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLR. Hotchkis & Wiley Capital Management LLC grew its holdings in Fluor by 43.4% in 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 purchasing an additional 1,104,350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fluor by 21.9% during 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 in the last quarter. Greenhouse Funds LLLP raised its holdings in shares of Fluor by 1.2% in the first quarter. Greenhouse Funds LLLP now owns 2,467,385 shares of the construction company's stock worth $88,382,000 after buying an additional 29,404 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Fluor by 145.1% during the first quarter. AQR Capital Management LLC now owns 1,625,776 shares of the construction company's stock worth $57,276,000 after buying an additional 962,382 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Fluor by 4,097.7% in the 1st quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company's stock valued at $47,723,000 after acquiring an additional 1,300,568 shares during the period. Hedge funds and other institutional investors own 88.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on FLR shares. Robert W. Baird dropped 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 upgraded Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Citigroup reduced their price target on shares of Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, August 4th. KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective on the stock. in a report on Tuesday, July 15th. Finally, Zacks Research cut shares of Fluor from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Four equities 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 a consensus rating of "Hold" and a consensus target price of $49.57.

Fluor Stock Performance

Shares of FLR traded down $0.49 during trading hours on Wednesday, hitting $40.30. The stock had a trading volume of 2,786,964 shares, compared to its average volume of 3,353,364. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 1.66 and a beta of 1.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a 50-day moving average price of $45.76 and a 200 day moving average price of $41.98. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $60.10.

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). Fluor had a return on equity of 9.27% and a net margin of 25.35%.The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.55 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The company's 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, research analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Insider Activity at Fluor

In other news, Chairman David E. Constable sold 38,600 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the completion of the transaction, the chairman directly owned 792,027 shares of the company's stock, valued at $41,272,526.97. This represents a 4.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Fluor Company 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.