Fluor Corporation $FLR Stock Position Reduced by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC significantly decreased its holdings in Fluor Corporation by 93.5%, reducing its shares to 13,837 valued at approximately $496,000.
• Multiple institutional investors have recently increased their stakes in Fluor, with Alyeska Investment Group L.P. boosting its position by 329.5% during the 4th quarter, owning nearly 2 million shares valued at $97.9 million.
• Fluor reported a quarterly earnings miss with an EPS of $0.43 compared to analysts' expectations of $0.59, indicating a declining revenue trend year-over-year.

Neuberger Berman Group LLC trimmed its position in shares of Fluor Corporation (NYSE:FLR - Free Report) by 93.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,837 shares of the construction company's stock after selling 198,137 shares during the period. Neuberger Berman Group LLC's holdings in Fluor were worth $496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLR. Alyeska Investment Group L.P. boosted its stake in Fluor by 329.5% during the 4th 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 during the period. Pacer Advisors Inc. boosted its stake in Fluor by 4,097.7% during the 1st 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 during the period. Balyasny Asset Management L.P. boosted its stake in Fluor by 10,125.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock valued at $52,129,000 after purchasing an additional 1,046,610 shares during the period. Hood River Capital Management LLC boosted its stake in Fluor by 58.4% during the 4th quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company's stock valued at $96,285,000 after purchasing an additional 719,583 shares during the period. Finally, Nuveen LLC acquired a new position in Fluor during the 1st quarter valued at about $22,308,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 64,383 shares in the company, valued at $2,924,919.69. This represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,320 shares of company stock worth $4,870,182 in the last 90 days. 1.70% of the stock is owned by company insiders.

Fluor Price Performance

Shares of NYSE FLR traded down $0.45 during midday trading on Wednesday, reaching $40.82. The company's stock had a trading volume of 3,391,056 shares, compared to its average volume of 3,591,440. 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 company has a 50 day moving average price of $49.71 and a 200 day moving average price of $42.23. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 1.68 and a beta of 1.43.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results on Friday, August 1st. The construction company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). Fluor had a return on equity of 9.27% and a net margin of 25.35%.The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm's revenue for the quarter 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, equities research analysts expect that Fluor Corporation will post 2.5 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup dropped their price target on shares of Fluor from $71.00 to $57.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. UBS Group dropped their price target on shares of Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price target on the stock. in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of Fluor from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Robert W. Baird dropped their price target on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.