Hennessy Advisors Inc. Lowers Position in Fluor Corporation $FLR

Key Points

• Hennessy Advisors Inc. reduced its stake in Fluor Corporation by 9.9%, selling 94,200 shares, and now holds 853,700 shares, which represent 1.5% of their investment portfolio.
• Fluor reported a net margin of 25.35% and a quarterly revenue of $3.98 billion, missing analysts' expectations of $4.55 billion.
• Brokerages have recently adjusted their price targets for Fluor, with Robert W. Baird lowering its target from $55.00 to $46.00, reflecting a neutral rating for the stock.

Hennessy Advisors Inc. lowered its holdings in Fluor Corporation (NYSE:FLR - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 853,700 shares of the construction company's stock after selling 94,200 shares during the period. Fluor makes up 1.5% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 15th largest position. Hennessy Advisors Inc. owned about 0.52% of Fluor worth $43,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fifth Third Bancorp raised its holdings in shares of Fluor by 11.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,062 shares of the construction company's stock valued at $106,000 after acquiring an additional 208 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Fluor by 8.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,368 shares of the construction company's stock valued at $173,000 after acquiring an additional 271 shares in the last quarter. Xponance Inc. raised its holdings in shares of Fluor by 1.5% during the 1st quarter. Xponance Inc. now owns 24,597 shares of the construction company's stock valued at $881,000 after buying an additional 357 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Fluor by 3.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company's stock valued at $400,000 after buying an additional 359 shares in the last quarter. Finally, Callan Family Office LLC raised its holdings in shares of Fluor by 4.4% during the 1st quarter. Callan Family Office LLC now owns 9,185 shares of the construction company's stock valued at $329,000 after buying an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Price Performance

FLR opened at $43.11 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. The stock has a market capitalization of $6.97 billion, a PE ratio of 1.78 and a beta of 1.48. The stock's 50 day moving average price is $43.14 and its 200-day moving average price is $42.56.

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 net margin of 25.35% and a return on equity of 9.27%. The business had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.55 billion. During the same period last year, the firm posted $0.85 earnings per share. Fluor's quarterly revenue was down 5.9% on a year-over-year basis. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. On average, equities research analysts predict that Fluor Corporation will post 2.5 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLR. Weiss Ratings reissued a "hold (c+)" rating on shares of Fluor in a report on Saturday, September 27th. Robert W. Baird decreased their price objective on Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. KeyCorp cut 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. UBS Group decreased their price objective on Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup decreased their price objective on Fluor from $71.00 to $57.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Fluor presently has a consensus rating of "Hold" and a consensus price target 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.

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