Natixis Advisors LLC Trims Stake in Fluor Corporation (NYSE:FLR)

Key Points

• Natixis Advisors LLC reduced its stake in Fluor Corporation by 13.5%, now holding 63,206 shares valued at $2,264,000 after selling 9,842 shares in the first quarter.
• Fluor's stock rose 0.6%, trading at $44.19, while it reported a misstep in earnings with $0.43 EPS, missing estimates by $0.16 and seeing a year-over-year revenue decline of 5.9%.
• Several institutional investors, including Envestnet Asset Management and Renaissance Technologies, increased their holdings in Fluor, showcasing ongoing interest amidst fluctuating stock performance.

Natixis Advisors LLC lessened its stake in Fluor Corporation (NYSE:FLR - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,206 shares of the construction company's stock after selling 9,842 shares during the period. Natixis Advisors LLC's holdings in Fluor were worth $2,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in Fluor by 15.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 99,684 shares of the construction company's stock worth $4,916,000 after buying an additional 13,104 shares in the last quarter. Invesco Ltd. grew its position in shares of Fluor by 23.1% during the 4th quarter. Invesco Ltd. now owns 1,345,503 shares of the construction company's stock valued at $66,360,000 after acquiring an additional 252,690 shares during the period. Renaissance Technologies LLC increased its stake in shares of Fluor by 100.2% in the 4th quarter. Renaissance Technologies LLC now owns 228,600 shares of the construction company's stock valued at $11,275,000 after purchasing an additional 114,400 shares in the last quarter. Advisory Services Network LLC acquired a new position in Fluor in the 4th quarter worth about $205,000. Finally, Martingale Asset Management L P purchased a new position in Fluor during the fourth quarter worth approximately $382,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Stock Up 0.6%

Shares of FLR opened at $44.19 on Friday. The company's 50-day moving average price is $49.91 and its 200 day moving average price is $42.76. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a current ratio of 1.62, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.14 billion, a P/E ratio of 1.82, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43.

Fluor (NYSE:FLR - Get Free Report) last posted its 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). The firm 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%. Fluor's revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts forecast that Fluor Corporation will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday. Wall Street Zen lowered shares of Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. KeyCorp cut shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 15th. 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 note on Monday. Finally, Truist Financial set a $52.00 price target on shares of Fluor in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Fluor presently has a consensus rating of "Hold" and an average target price of $49.57.

Insider Transactions at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the firm's stock in a transaction on 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 in the company, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman directly owned 870,627 shares in the company, valued at $42,660,723. This trade represents a 4.48% decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 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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