Raymond James Financial Inc. Cuts Position in Fluor Corporation $FLR

Raymond James Financial Inc. lessened its holdings in Fluor Corporation (NYSE:FLR) by 50.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 130,903 shares of the construction company’s stock after selling 135,319 shares during the quarter. Raymond James Financial Inc.’s holdings in Fluor were worth $4,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hurley Capital LLC purchased a new position in shares of Fluor in the 1st quarter valued at about $29,000. Strategic Investment Solutions Inc. IL increased its stake in shares of Fluor by 800.0% in the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company’s stock valued at $32,000 after purchasing an additional 800 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Fluor by 222.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company’s stock worth $39,000 after buying an additional 760 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company’s stock worth $43,000 after buying an additional 666 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Fluor in the 1st quarter worth about $46,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 0.1%

NYSE:FLR opened at $41.50 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $47.48 and its two-hundred day moving average is $41.81. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $60.10. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 1.71 and a beta of 1.50.

Fluor (NYSE:FLR) last released its quarterly 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 firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.55 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. Research analysts anticipate that Fluor Corporation will post 2.5 EPS for the current year.

Insider Buying and Selling at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the 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 approximately $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David E. Constable sold 38,600 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the completion of the sale, the chairman owned 792,027 shares in the company, valued at approximately $41,272,526.97. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,320 shares of company stock worth $4,870,182. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FLR shares. Citigroup lowered their price objective on Fluor from $71.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Truist Financial set a $52.00 target price on shares of Fluor in a research note on Monday, August 4th. Robert W. Baird lowered their target price on shares of Fluor from $55.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Finally, KeyCorp cut 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 equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.57.

Fluor Company 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.