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IRVING, Texas - Engineering and construction firm Fluor Corporation (NYSE:FLR), currently trading at $43.52 and considered undervalued according to InvestingPro analysis, announced it has completed the sale of 15 million shares of NuScale Power Corporation (NYSE:SMR) for net proceeds of $605 million.
The shares, which were converted in August 2025, have appreciated more than 300% since NuScale went public at $10 per share in May 2022. Fluor plans to use existing tax attributes to limit cash taxes from the sales, according to the company’s press release statement.
Fluor intends to allocate a majority of the proceeds to enhance its ongoing share repurchase program. Despite the sale, the company maintains a significant stake in NuScale, holding 111 million NuScale LLC Class B units and associated Class B shares, representing approximately 39% of NuScale’s equity.
The company forecasts its cash and equivalents will reach approximately $2.7 billion at the end of the third quarter, including $364 million from NuScale sales that occurred before quarter end.
Fluor, which reported revenue of $16.3 billion in 2024, employs nearly 27,000 people providing engineering, procurement, construction and maintenance services. The company will release its complete third-quarter operational results and additional information about share repurchases on November 7, 2025.
In other recent news, Fluor Corporation has secured a significant position on the Defense Threat Reduction Agency’s Cooperative Threat Reduction Integrating Contract IV. This contract holds a potential value of up to $3.5 billion over a decade, allowing Fluor to compete for task orders aimed at reducing chemical, biological, radiological, and nuclear threats. Additionally, Fluor has been awarded a three-year Logistics Support Services contract by the U.S. Army’s Regional Contracting Office in Bavaria, Germany, continuing its support for the 7th Army Training Command.
In other developments, Fluor acknowledged a Supreme Court of Queensland ruling favoring Santos in a legal dispute over the Gladstone LNG project, which has been ongoing since 2016. On the analyst front, DA Davidson reiterated its Buy rating for Fluor, setting a price target of $50.00, despite noting slower bookings momentum. Meanwhile, BofA Securities maintained a Neutral rating on NuScale Power, following the company’s collaboration agreement with Tennessee Valley Authority and ENTRA1 Energy to deploy new nuclear capacity. These recent developments highlight Fluor’s ongoing involvement in major contracts and legal proceedings, as well as analyst perspectives on its stock performance.
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