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Investing.com-- Fluor Corporation (NYSE:FLR) shares rose sharply in aftermarket trade on Monday after a report said activist investor Starboard Value had taken a nearly 5% stake in the firm and was seeking to boost the engineering company’s stock price.
Fluor rose nearly 7% after the close to $51.12.
The Wall Street Journal reported that Starboard had taken a nearly 5% stake in the firm, with the thinking that Fluor stands to benefit from a new wave of government policies and infrastructure projects under the Donald Trump administration.
Starboard also thinks Fluor’s core business is undervalued by the market, especially in relation to Fluor’s 40% stake in Nuscale Power Corp (NYSE:SMR)– a firm that builds small, modular nuclear reactors.
Starboard thinks Fluor should explore options for its NuScale stake, especially after the company surged in value this year on optimism over nuclear technology being used to power artificial intelligence data centers.
Starboard CEO Jeff Smith is expected to shed more light on its Fluor stake on Tuesday, the WSJ report said.
Fluor has a market capital of about $8 billion, with shares trading down around 3% so far in 2025.