Key Points
Fluor is cashing in on its large stake in NuScale Power.
The company is returning some of the proceeds to shareholders.
Fluor is working in strong and growing industries.
- 10 stocks we like better than Fluor ›
Shares of construction and engineering firm Fluor Corp. (NYSE: FLR) jumped 13.2% in February, according to data provided by S&P Global Market Intelligence. The stock of what some might consider a stodgy industrial company has now surged 32% over the last 12 months.
That's because Fluor operates in several sectors that are now in growth mode or poised to enter it in the near future. While the company's fourth-quarter report last month wasn't spectacular, investors still pushed the stock higher in February, as the business backlog remains strong.
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Cashing in on nuclear
One reason for the surge in Fluor's stock price has been the monetization of its successful investment in modular nuclear reactor start-up NuScale Power. Fluor first invested in NuScale as a private company in 2011, becoming a majority owner with an initial commitment of about $30 million. Fluor invested a total of about $600 million in NuScale over the next decade.
The investment wasn't just monetary. Fluor supported the commercialization of NuScale to support the development of its small modular reactor (SMR) technology and gain the rights to construct NuScale's modular nuclear power plants.
Fluor is now cashing in on those investments. It received $1.35 billion from a share sale in early 2026 and has now raised almost $2 billion in proceeds, including 2025 sales. Fluor expects to sell its remaining 40 million shares in the second quarter.
Benefiting Fluor shareholders
Fluor is using those proceeds to enhance shareholder value through share buybacks. Fluor repurchased nearly 17 million shares of its common stock, investing over $700 million, from the beginning of the fourth quarter of 2025 through Feb. 13, 2026.
Last month, the board of directors expanded the share repurchase program by authorizing an additional 30 million shares, bringing the total shares available for repurchase to approximately 32.4 million. That represents more than 20% of Fluor's outstanding shares.
And the company has already reduced its share count by about 13% over the past year. While the repurchase plan isn't among the largest in the market -- the top share repurchaser over the last 12 months was Apple, according to recent research from The Motley Fool -- it gives Fluor shareholders increased ownership.
Fluor's fourth-quarter results weren't great. Its project backlog dropped slightly from the third quarter, but it remains strong. Those projects are in growing sectors, including other nuclear energy projects. It was awarded a multi-year contract in February to expand a uranium enrichment facility in Ohio.
Fluor is also working on data center projects and pharmaceutical company expansion projects. Those growth sectors should continue to boost Fluor's project backlog. With the stock trading at a forward price-to-earnings (P/E) ratio below 18, it also means shares could have more room to run.
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Howard Smith has positions in Apple. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
