Harbor Capital Advisors Inc. Reduces Stake in Fluor Corporation $FLR

Harbor Capital Advisors Inc. reduced its stake in shares of Fluor Corporation (NYSE:FLR) by 80.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,348 shares of the construction company’s stock after selling 165,079 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Fluor were worth $1,697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLR. MTM Investment Management LLC purchased a new stake in Fluor during the 2nd quarter valued at $26,000. IFP Advisors Inc purchased a new stake in shares of Fluor in the second quarter valued at $27,000. Hantz Financial Services Inc. lifted its holdings in shares of Fluor by 2,695.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 587 shares of the construction company’s stock worth $30,000 after acquiring an additional 566 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Fluor during the 2nd quarter worth about $33,000. Finally, Solstein Capital LLC bought a new position in Fluor during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

FLR opened at $40.85 on Friday. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 2.08 and a beta of 1.31. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.20. Fluor Corporation has a 12-month low of $29.20 and a 12-month high of $57.50. The business’s fifty day simple moving average is $44.20 and its 200-day simple moving average is $45.72.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, November 7th. The construction company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.24. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $4.20 billion. Fluor had a net margin of 21.71% and a return on equity of 8.32%. The firm’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. Fluor has set its FY 2025 guidance at 2.100-2.250 EPS. On average, equities research analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FLR shares. Wall Street Zen upgraded Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Truist Financial boosted their price objective on Fluor from $51.00 to $56.00 and gave the company a “buy” rating in a report on Monday, November 10th. UBS Group reduced their target price on Fluor from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, DA Davidson upped their price target on shares of Fluor from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $49.57.

Fluor Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.