MetLife Investment Management LLC Raises Stock Holdings in Fluor Corporation $FLR

Key Points

• MetLife Investment Management LLC has significantly increased its stake in Fluor Corporation by 223.5%, now holding approximately $22.67 million in shares.
• Fluor Corporation reported a higher net margin of 25.35% but missed earnings estimates with $0.43 EPS compared to the expected $0.59.
• Wall Street analysts have mixed ratings for Fluor, with a current consensus rating of "Moderate Buy" and a price target averaging around $49.57.

MetLife Investment Management LLC boosted its stake in Fluor Corporation (NYSE:FLR - Free Report) by 223.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 632,757 shares of the construction company's stock after buying an additional 437,168 shares during the quarter. MetLife Investment Management LLC owned approximately 0.38% of Fluor worth $22,665,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hurley Capital LLC bought a new position in shares of Fluor during the first quarter valued at about $29,000. Strategic Investment Solutions Inc. IL lifted its position in shares of Fluor by 800.0% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company's stock worth $32,000 after buying an additional 800 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Fluor by 222.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock worth $39,000 after buying an additional 760 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Fluor by 121.5% in the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock valued at $43,000 after acquiring an additional 666 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Fluor during the first quarter valued at approximately $46,000. Institutional investors own 88.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FLR. Citigroup reduced their price objective on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Zacks Research lowered shares of Fluor from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Truist Financial set a $52.00 target price on shares of Fluor in a research note on Monday, August 4th. Finally, Robert W. Baird decreased their price target 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. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Fluor has an average rating of "Hold" and a consensus price target of $49.57.

Insiders Place Their Bets

In related news, Chairman David E. Constable sold 38,600 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were 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 owned 792,027 shares of the company's stock, valued at approximately $41,272,526.97. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction of $859,535.60. Following the transaction, the insider owned 64,383 shares of the company's stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,320 shares of company stock worth $4,870,182. 1.70% of the stock is currently owned by corporate insiders.

Fluor Stock Performance

Shares of NYSE FLR traded up $0.56 during midday trading on Thursday, hitting $41.66. The company's stock had a trading volume of 2,716,460 shares, compared to its average volume of 3,611,217. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 1.72 and a beta of 1.43. 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 stock has a fifty day moving average price of $48.71 and a 200 day moving average price of $41.98. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data 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). Fluor had a net margin of 25.35% and a return on equity of 9.27%. The business had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.55 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The firm'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, research analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal year.

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.