Hotchkis & Wiley Capital Management LLC Buys 1,104,350 Shares of Fluor Corporation $FLR

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in Fluor Corporation by 43.4%, acquiring an additional 1,104,350 shares, bringing their total ownership to approximately 2.21% of the company.
• Notable hedge fund activity includes Alyeska Investment Group increasing their stake by 329.5% and Pacer Advisors raising their position by 4,097.7% recently, reflecting strong institutional interest in Fluor.
• Fluor reported earnings of $0.43 per share for the latest quarter, which was below analysts' expectations, alongside a 5.9% decline in revenue year-over-year.

Hotchkis & Wiley Capital Management LLC raised its position in Fluor Corporation (NYSE:FLR - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,646,837 shares of the construction company's stock after buying an additional 1,104,350 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 2.21% of Fluor worth $130,630,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Fluor by 21.9% in 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 purchasing an additional 550,793 shares in the last quarter. Northern Trust Corp grew its position in shares of Fluor by 12.9% in the fourth quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company's stock valued at $117,971,000 after purchasing an additional 273,156 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of Fluor by 329.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock valued at $97,954,000 after purchasing an additional 1,523,647 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Fluor by 4,097.7% in the first quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company's stock valued at $47,723,000 after purchasing an additional 1,300,568 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Fluor by 1.6% in the first quarter. Westfield Capital Management Co. LP now owns 1,142,294 shares of the construction company's stock valued at $40,917,000 after purchasing an additional 18,346 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Fluor news, 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 transaction of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares of the company's stock, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David E. Constable sold 38,600 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the sale, the chairman directly owned 792,027 shares of the company's stock, valued at approximately $41,272,526.97. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 Price Performance

FLR stock traded down $0.29 during mid-day trading on Wednesday, hitting $41.13. 2,835,584 shares of the stock were exchanged, compared to its average volume of 3,616,704. 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 business has a fifty day moving average price of $48.89 and a 200 day moving average price of $41.99. Fluor Corporation has a 12 month low of $29.20 and a 12 month high of $60.10. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 1.69 and a beta of 1.43.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly 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 the consensus estimate of $4.55 billion. During the same period last year, the firm earned $0.85 EPS. The company's revenue for the quarter 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, sell-side analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FLR shares. KeyCorp cut Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target for the company. in a research report on Tuesday, July 15th. Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Truist Financial set a $52.00 target price on Fluor in a research report on Monday, August 4th. UBS Group reduced their target price on Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, 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. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.