Mengis Capital Management Inc. Raises Stock Position in Fluor Corporation $FLR

Key Points

• Mengis Capital Management Inc. increased its stake in Fluor Corporation by 49.4%, owning a total of 55,762 shares valued at approximately $2.86 million.
• Fluor's recent quarterly earnings showed a loss against expectations, reporting $0.43 EPS, missing the consensus of $0.59 by $0.16, with revenues down 5.9% year-over-year.
• Research analysts have mixed views on Fluor, with ratings ranging from "buy" to "hold", and a consensus price target of $49.43 for the stock.

Mengis Capital Management Inc. boosted its holdings in Fluor Corporation (NYSE:FLR - Free Report) by 49.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 55,762 shares of the construction company's stock after buying an additional 18,429 shares during the period. Mengis Capital Management Inc.'s holdings in Fluor were worth $2,859,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. IFP Advisors Inc purchased a new position in shares of Fluor during the second quarter valued at about $27,000. Callan Family Office LLC grew its position in shares of Fluor by 10.6% during the second quarter. Callan Family Office LLC now owns 10,161 shares of the construction company's stock valued at $521,000 after purchasing an additional 976 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Fluor during the second quarter valued at about $494,000. Clear Creek Financial Management LLC lifted its holdings in shares of Fluor by 23.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 10,346 shares of the construction company's stock valued at $530,000 after acquiring an additional 1,995 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new position in shares of Fluor in the 2nd quarter valued at about $172,000. Hedge funds and other institutional investors own 88.07% of the company's stock.

Fluor Stock Performance

Shares of FLR stock opened at $43.47 on Friday. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 1.79 and a beta of 1.48. The company's 50 day moving average is $42.13 and its 200 day moving average is $42.71. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data 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 in the previous year, the business earned $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. On average, sell-side analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FLR shares. Wall Street Zen raised shares of Fluor from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Truist Financial decreased their price objective on shares of Fluor from $52.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday. Robert W. Baird decreased their price objective on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Citigroup decreased their price objective on shares of Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Finally, KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target for the company. in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $49.43.

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.

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