Corebridge Financial Inc. Sells 5,831 Shares of Fluor Corporation $FLR

Corebridge Financial Inc. reduced its stake in Fluor Corporation (NYSE:FLR) by 2.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 271,947 shares of the construction company’s stock after selling 5,831 shares during the quarter. Corebridge Financial Inc.’s holdings in Fluor were worth $9,741,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FLR. Alyeska Investment Group L.P. boosted its stake in shares of Fluor by 329.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock valued at $97,954,000 after buying an additional 1,523,647 shares during the period. Pacer Advisors Inc. raised its position in Fluor by 4,097.7% during the first quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company’s stock valued at $47,723,000 after purchasing an additional 1,300,568 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Fluor by 43.4% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,646,837 shares of the construction company’s stock valued at $130,630,000 after purchasing an additional 1,104,350 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Fluor by 10,125.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock valued at $52,129,000 after purchasing an additional 1,046,610 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Fluor during the first quarter valued at approximately $22,308,000. 88.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FLR. Truist Financial set a $52.00 price objective on shares of Fluor in a research report on Monday, August 4th. Robert W. Baird lowered their price objective on shares of Fluor from $55.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Citigroup lowered their price objective on shares of Fluor from $71.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Finally, Zacks Research downgraded shares of Fluor from a “hold” rating to a “strong sell” rating in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fluor currently has an average rating of “Hold” and a consensus price target of $49.57.

Insiders Place Their Bets

In related news, Chairman David E. Constable sold 38,600 shares of the stock in a transaction on Thursday, July 3rd. The stock was 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 directly owned 792,027 shares in the company, valued at $41,272,526.97. This represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares of the company’s stock, valued at $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock valued at $4,870,182 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Fluor Stock Down 0.7%

Shares of NYSE:FLR opened at $41.13 on Thursday. The company has a fifty day moving average of $48.71 and a 200-day moving average of $41.98. The company has a market capitalization of $6.65 billion, a PE ratio of 1.69 and a beta of 1.43. 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.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, August 1st. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.16). The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.55 billion. Fluor had a return on equity of 9.27% and a net margin of 25.35%.The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.85 earnings per share. Fluor has set its FY 2025 guidance at 1.950-2.15 EPS. On average, equities analysts predict that Fluor Corporation will post 2.5 EPS 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.