MFG Wealth Management Inc. Purchases New Position in Fluor Corporation $FLR

Key Points

• MFG Wealth Management Inc. acquired a new position in Fluor Corporation by purchasing 41,035 shares valued at approximately $2.1 million during the 2nd quarter.
• Fluor has recently seen various institutional investors increasing their stakes, with ProShare Advisors LLC growing its position by 41.2% in the last quarter.
• Analysts have rated Fluor's stock mixed, with a consensus rating of "Hold" and a target price of $49.57, while Zacks downgraded it to a "strong sell."

MFG Wealth Management Inc. purchased a new stake in shares of Fluor Corporation (NYSE:FLR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,035 shares of the construction company's stock, valued at approximately $2,104,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FLR. Cetera Investment Advisers increased its position in shares of Fluor by 3.6% during the fourth quarter. Cetera Investment Advisers now owns 16,678 shares of the construction company's stock valued at $823,000 after acquiring an additional 577 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fluor by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,172 shares of the construction company's stock valued at $4,793,000 after acquiring an additional 3,676 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Fluor by 16.1% during the fourth quarter. Quantinno Capital Management LP now owns 5,389 shares of the construction company's stock valued at $266,000 after acquiring an additional 748 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Fluor by 41.2% during the fourth quarter. ProShare Advisors LLC now owns 56,115 shares of the construction company's stock valued at $2,768,000 after acquiring an additional 16,382 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Fluor by 165.6% during the fourth quarter. State of Wyoming now owns 5,068 shares of the construction company's stock valued at $250,000 after acquiring an additional 3,160 shares in the last quarter. Institutional investors own 88.07% of the company's stock.

Analyst Ratings Changes

FLR has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Fluor from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Citigroup cut their target price on shares of Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Truist Financial set a $52.00 target price on shares of Fluor in a research report on Monday, August 4th. UBS Group cut their target price on shares of 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 cut their target price on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Fluor presently has a consensus rating of "Hold" and a consensus target price of $49.57.

Insider Buying and Selling

In other Fluor news, Chairman David E. Constable sold 38,600 shares of the business's stock in a transaction on 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 sale, the chairman owned 792,027 shares in the company, valued at $41,272,526.97. The trade was a 4.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Fluor Price Performance

NYSE:FLR opened at $41.45 on Tuesday. The stock has a market cap of $6.70 billion, a PE ratio of 1.71 and a beta of 1.50. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $60.10. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. The business's 50-day simple moving average is $46.20 and its two-hundred day simple moving average is $42.00.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.16). The company had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%.The firm's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, analysts forecast that Fluor Corporation will post 2.5 EPS for the current fiscal year.

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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