Nuveen LLC Takes $22.31 Million Position in Fluor Corporation $FLR

Key Points

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Nuveen LLC purchased a new position in shares of Fluor Corporation (NYSE:FLR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 622,794 shares of the construction company's stock, valued at approximately $22,308,000. Nuveen LLC owned approximately 0.38% of Fluor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in Fluor during the 1st quarter valued at $990,000. Benjamin Edwards Inc. increased its position in Fluor by 9.5% during the 1st quarter. Benjamin Edwards Inc. now owns 26,863 shares of the construction company's stock valued at $962,000 after purchasing an additional 2,332 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Fluor during the 1st quarter valued at $5,601,000. Cynosure Group LLC purchased a new position in Fluor during the 1st quarter valued at $347,000. Finally, Citigroup Inc. increased its position in Fluor by 22.5% during the 1st quarter. Citigroup Inc. now owns 1,098,784 shares of the construction company's stock valued at $39,358,000 after purchasing an additional 202,005 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of the business'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 completion of the transaction, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,320 shares of company stock worth $4,870,182. 1.70% of the stock is currently owned by company insiders.

Fluor Stock Up 1.5%

Fluor stock traded up $0.60 during mid-day trading on Friday, reaching $41.64. The stock had a trading volume of 1,919,443 shares, compared to its average volume of 3,604,415. The company 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 50-day moving average price of $49.38 and a two-hundred day moving average price of $42.18. Fluor Corporation has a one year low of $29.20 and a one year high of $60.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.62.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%.The business's revenue for the quarter was down 5.9% on a year-over-year basis. 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. On average, analysts expect that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FLR shares. Wall Street Zen downgraded shares of Fluor from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Citigroup reduced their price objective 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. Robert W. Baird reduced their price objective 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. UBS Group dropped their target price on shares of Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, KeyCorp cut shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Fluor currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.57.

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.