HighTower Advisors LLC Grows Stake in Fluor Corporation $FLR

Key Points

• HighTower Advisors LLC has increased its position in Fluor Corporation by 141.9% during the first quarter, owning 84,372 shares valued at approximately $3.02 million.
• Fluor reported quarterly earnings of $0.43 per share, which missed analysts' estimates of $0.59 and marked a revenue decrease of 5.9% year-over-year.
• Multiple analysts have revised their price targets for Fluor, with Citigroup lowering it from $71.00 to $57.00, indicating a cautious outlook on the stock.

HighTower Advisors LLC grew its holdings in Fluor Corporation (NYSE:FLR - Free Report) by 141.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,372 shares of the construction company's stock after purchasing an additional 49,491 shares during the period. HighTower Advisors LLC owned about 0.05% of Fluor worth $3,022,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. New York State Teachers Retirement System grew its holdings in Fluor by 10.7% during the first quarter. New York State Teachers Retirement System now owns 192,218 shares of the construction company's stock valued at $6,885,000 after purchasing an additional 18,603 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Fluor by 104.6% during the first 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 during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Fluor by 59.6% in the first quarter. Vontobel Holding Ltd. now owns 18,004 shares of the construction company's stock valued at $645,000 after acquiring an additional 6,720 shares during the period. Mengis Capital Management Inc. boosted its position in shares of Fluor by 21.9% in the first quarter. Mengis Capital Management Inc. now owns 37,333 shares of the construction company's stock valued at $1,337,000 after acquiring an additional 6,710 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Fluor by 28.6% in the first quarter. Janney Montgomery Scott LLC now owns 111,729 shares of the construction company's stock valued at $4,002,000 after acquiring an additional 24,848 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on FLR shares. Citigroup reduced their target price on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a research report on Friday. Robert W. Baird reduced their target price on Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a research note on Friday. Finally, 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 note on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $49.57.

Insider Buying and Selling

In related news, Chairman David E. Constable sold 38,600 shares of the business's stock in a transaction dated 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 in the company, valued at $41,272,526.97. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the sale, the insider directly owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock valued at $4,870,182 in the last three months. Insiders own 1.70% of the company's stock.

Fluor Stock Up 0.5%

Shares of NYSE:FLR traded up $0.22 during trading on Tuesday, hitting $41.47. 1,913,912 shares of the company's stock traded hands, compared to its average volume of 3,607,100. Fluor Corporation has a 52 week low of $29.20 and a 52 week 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 company has a market cap of $6.70 billion, a price-to-earnings ratio of 1.71 and a beta of 1.43. The company has a 50-day moving average price of $49.06 and a 200-day moving average price of $41.99.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). The business 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%.The firm'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 earnings per share. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, research analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal 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.