Fluor (NYSE:FLR) Trading Up 5.5% – What’s Next?

Shares of Fluor Corporation (NYSE:FLR) were up 5.5% during mid-day trading on Monday . The stock traded as high as $50.71 and last traded at $50.8660. Approximately 1,100,633 shares changed hands during trading, a decline of 58% from the average daily volume of 2,597,942 shares. The stock had previously closed at $48.23.

Analysts Set New Price Targets

Several equities analysts have issued reports on FLR shares. Truist Financial raised their price objective on Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Robert W. Baird raised their price objective on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. Zacks Research lowered Fluor from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, Citigroup raised their price objective on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fluor currently has a consensus rating of “Hold” and an average target price of $54.33.

Fluor Stock Performance

The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $47.85 and a 200-day moving average of $45.70. The stock has a market cap of $7.39 billion, a PE ratio of -66.18, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business earned $0.48 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Fluor Corporation will post 2.75 EPS for the current year.

Insider Activity

In related news, insider Pierre Edward Bechelany sold 4,581 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $53.10, for a total value of $243,251.10. Following the completion of the sale, the insider owned 32,748 shares in the company, valued at $1,738,918.80. This trade represents a 12.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael E. Alexander sold 3,387 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.07, for a total transaction of $179,748.09. Following the completion of the sale, the insider owned 68,664 shares of the company’s stock, valued at approximately $3,643,998.48. The trade was a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 22,110 shares of company stock valued at $1,168,920. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

A number of hedge funds have recently added to or reduced their stakes in FLR. Global Retirement Partners LLC lifted its position in Fluor by 91.7% in the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after purchasing an additional 311 shares during the period. Assetmark Inc. lifted its position in Fluor by 249.0% in the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after purchasing an additional 483 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Fluor in the fourth quarter valued at about $27,000. CoreCap Advisors LLC lifted its position in shares of Fluor by 129.5% during the 3rd quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock valued at $30,000 after acquiring an additional 408 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.