Twin Tree Management LP Sells 48,129 Shares of Fluor Corporation $FLR

Key Points

• Twin Tree Management LP has reduced its holdings in Fluor Corporation by 33.0%, now owning about 0.06% of the company, valued at approximately $3.49 million.
• Fluor's recent earnings report showed a miss in projected earnings per share, with actual results at $0.43 compared to estimates of $0.59, and revenue also falling short at $3.98 billion against expectations of $4.55 billion.
• Several investment firms have downgraded Fluor's stock ratings, with Citigroup reducing its target price from $71.00 to $57.00 and Zacks Research rating it as a "strong sell."

Twin Tree Management LP trimmed its stake in shares of Fluor Corporation (NYSE:FLR - Free Report) by 33.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 97,517 shares of the construction company's stock after selling 48,129 shares during the quarter. Twin Tree Management LP owned 0.06% of Fluor worth $3,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hurley Capital LLC purchased a new position in Fluor during the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL grew its position in Fluor by 800.0% during the first quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company's stock worth $32,000 after buying an additional 800 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Fluor by 222.9% in the first quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock valued at $39,000 after acquiring an additional 760 shares during the last quarter. Versant Capital Management Inc increased its stake in Fluor by 121.5% in the first quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company's stock valued at $43,000 after acquiring an additional 666 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Fluor in the first quarter valued at $46,000. 88.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLR. Truist Financial set a $52.00 price objective on Fluor in a report on Monday, August 4th. Zacks Research cut Fluor from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Wall Street Zen upgraded Fluor from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Citigroup cut their price objective on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, KeyCorp cut Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective for the company. in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $49.57.

Fluor Trading Up 0.1%

NYSE FLR traded up $0.03 during trading on Friday, hitting $41.50. 2,995,034 shares of the company's stock traded hands, compared to its average volume of 3,965,166. The stock has a fifty day moving average of $47.48 and a two-hundred day moving average of $41.81. 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 Corporation has a 12-month low of $29.20 and a 12-month high of $60.10. The firm has a market cap of $6.71 billion, a P/E ratio of 1.71 and a beta of 1.50.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. The business's revenue was down 5.9% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. As a group, sell-side analysts expect that Fluor Corporation will post 2.5 EPS for the current year.

Insider Activity at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 64,383 shares in the company, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David E. Constable sold 38,600 shares of Fluor stock in a transaction dated 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 directly owned 792,027 shares in the company, valued at $41,272,526.97. The trade was a 4.65% 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 valued at $4,870,182. Company insiders own 1.70% of the company's stock.

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.