Castleark Management LLC Invests $6.53 Million in Fluor Corporation $FLR

Castleark Management LLC acquired a new stake in shares of Fluor Corporation (NYSE:FLR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 127,440 shares of the construction company’s stock, valued at approximately $6,534,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Fluor in the first quarter worth $22,308,000. HighTower Advisors LLC boosted its holdings in Fluor by 141.9% in the 1st quarter. HighTower Advisors LLC now owns 84,372 shares of the construction company’s stock worth $3,022,000 after buying an additional 49,491 shares during the period. Boston Partners increased its stake in Fluor by 11.8% in the 1st quarter. Boston Partners now owns 29,399 shares of the construction company’s stock worth $1,053,000 after buying an additional 3,098 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Fluor by 21.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,066,704 shares of the construction company’s stock valued at $109,847,000 after acquiring an additional 550,793 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of Fluor in the first quarter valued at about $1,859,000. Institutional investors own 88.07% of the company’s stock.

Analysts Set New Price Targets

FLR has been the topic of a number of research analyst reports. DA Davidson boosted their price target on Fluor from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Truist Financial boosted their target price on shares of Fluor from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.57.

Fluor Price Performance

FLR stock opened at $43.52 on Friday. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $57.50. The firm has a market capitalization of $7.01 billion, a P/E ratio of 2.21 and a beta of 1.31. The company has a fifty day simple moving average of $45.01 and a two-hundred day simple moving average of $45.82. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.20.

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

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.