Harbor Capital Advisors Inc. Cuts Position in Fluor Corporation $FLR

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

A number of other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in Fluor by 12.6% in the first quarter. American Century Companies Inc. now owns 64,904 shares of the construction company’s stock worth $2,325,000 after purchasing an additional 7,240 shares in the last quarter. AlphaQuest LLC grew its position in shares of Fluor by 763.7% in the 1st quarter. AlphaQuest LLC now owns 2,021 shares of the construction company’s stock worth $72,000 after buying an additional 1,787 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Fluor by 165.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 261,348 shares of the construction company’s stock worth $9,361,000 after acquiring an additional 163,005 shares in the last quarter. Ieq Capital LLC boosted its stake in Fluor by 1,227.2% in the first quarter. Ieq Capital LLC now owns 95,029 shares of the construction company’s stock valued at $3,404,000 after acquiring an additional 87,869 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Fluor in the first quarter worth $1,601,000. Institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

Shares of NYSE FLR opened at $40.85 on Friday. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $57.50. The business’s 50 day moving average price is $44.20 and its 200 day moving average price is $45.72. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a market cap of $6.58 billion, a P/E ratio of 2.08 and a beta of 1.31.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, November 7th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.44 by $0.24. The business had revenue of $3.37 billion during 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 quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. Fluor has set its FY 2025 guidance at 2.100-2.250 EPS. On average, sell-side analysts expect that Fluor Corporation will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FLR shares. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. DA Davidson raised 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. Weiss Ratings restated a “hold (c)” rating on shares of Fluor in a report on Monday. Truist Financial lifted their target price on shares of Fluor from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $49.57.

Fluor Company 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.