Tidal Investments LLC Sells 20,578 Shares of Fluor Corporation $FLR

Key Points

• Tidal Investments cut its Fluor stake by 63.5% in the second quarter, selling 20,578 shares and retaining 11,838 shares valued at approximately $620,000.
• Analyst sentiment remains mixed but leans positive: price targets range from $50 to $71, while MarketBeat assigns Fluor an overall “Hold” rating with an average target of $63.33.
• Fluor exceeded quarterly expectations, reporting $0.91 in EPS versus the $0.70 consensus and $4.33 billion in revenue, up 8.8% year over year; shares recently traded at $54.79.

Tidal Investments LLC reduced its position in Fluor Corporation (NYSE:FLR - Free Report) by 63.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,838 shares of the construction company's stock after selling 20,578 shares during the period. Tidal Investments LLC's holdings in Fluor were worth $620,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HB Wealth Management LLC grew its holdings in shares of Fluor by 7.2% during the second quarter. HB Wealth Management LLC now owns 5,191 shares of the construction company's stock valued at $272,000 after buying an additional 348 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Fluor by 16.4% in the 1st quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company's stock worth $124,000 after acquiring an additional 375 shares during the last quarter. Root Financial Partners LLC lifted its position in Fluor by 121.4% in the 1st quarter. Root Financial Partners LLC now owns 826 shares of the construction company's stock valued at $39,000 after acquiring an additional 453 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Fluor by 10.0% during the 2nd quarter. NewEdge Advisors LLC now owns 5,092 shares of the construction company's stock valued at $267,000 after purchasing an additional 464 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Fluor in the second quarter valued at approximately $25,000. Institutional investors and hedge funds own 88.07% of the company's stock.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of analyst reports. Citigroup increased their price target on Fluor from $56.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Barclays raised their price target on shares of Fluor from $40.00 to $50.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Weiss Ratings cut shares of Fluor from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, August 21st. Truist Financial reiterated a "buy" rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Finally, Zacks Research raised Fluor from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.33.

Fluor Price Performance

Shares of NYSE FLR opened at $54.79 on Tuesday. The stock has a fifty day moving average of $52.74 and a 200-day moving average of $49.82. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $58.35. The stock has a market cap of $7.33 billion, a PE ratio of -4.46, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. Fluor's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 earnings per share. Equities research analysts anticipate that Fluor Corporation will post 2.66 earnings per share for the current year.

Insider Activity at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares of the company's stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company's stock.

About Fluor

Fluor Corporation NYSE: FLR is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.

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