State of Alaska Department of Revenue Sells 1,600 Shares of Fluor Corporation $FLR

State of Alaska Department of Revenue lowered its stake in shares of Fluor Corporation (NYSE:FLR) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,499 shares of the construction company’s stock after selling 1,600 shares during the quarter. State of Alaska Department of Revenue’s holdings in Fluor were worth $948,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Fluor by 21.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,566 shares of the construction company’s stock worth $472,000 after purchasing an additional 1,696 shares during the last quarter. GAMMA Investing LLC grew its holdings in Fluor by 2,695.3% during the first quarter. GAMMA Investing LLC now owns 63,760 shares of the construction company’s stock valued at $2,284,000 after purchasing an additional 61,479 shares during the period. NBC Securities Inc. raised its stake in shares of Fluor by 150,425.0% in the first quarter. NBC Securities Inc. now owns 6,021 shares of the construction company’s stock valued at $215,000 after buying an additional 6,017 shares during the period. Merit Financial Group LLC purchased a new position in shares of Fluor during the 1st quarter valued at $293,000. Finally, Abacus Planning Group Inc. bought a new position in shares of Fluor during the 1st quarter worth $206,000. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Down 0.8%

Shares of Fluor stock opened at $43.11 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.62 and a current ratio of 1.62. Fluor Corporation has a 52-week low of $29.20 and a 52-week high of $60.10. The company’s 50 day moving average price is $43.14 and its 200-day moving average price is $42.62. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 1.78 and a beta of 1.48.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share 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 analysts’ expectations of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. Equities research analysts forecast that Fluor Corporation will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FLR. Citigroup lowered their price objective on Fluor from $71.00 to $57.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fluor in a report on Saturday, September 27th. Robert W. Baird reduced their price objective on shares of Fluor from $55.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. Finally, Truist Financial set a $52.00 target price on Fluor in a research report on Monday, August 4th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Fluor presently has a consensus rating of “Hold” and a consensus target price 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.