Short Interest in Fluor Corporation (NYSE:FLR) Drops By 17.5%

Fluor Corporation (NYSE:FLR) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 7,489,595 shares, a decrease of 17.5% from the February 12th total of 9,080,184 shares. Based on an average daily volume of 3,877,443 shares, the short-interest ratio is currently 1.9 days. Approximately 5.2% of the shares of the stock are sold short. Approximately 5.2% of the shares of the stock are sold short. Based on an average daily volume of 3,877,443 shares, the short-interest ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of research reports. Citigroup lifted their price objective on shares of Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reissued a “buy” rating and set a $57.00 price target on shares of Fluor in a research report on Thursday, February 19th. Truist Financial increased their price objective on shares of Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, DA Davidson lifted their target price on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.33.

Fluor Stock Performance

NYSE:FLR traded up $0.83 during mid-day trading on Monday, reaching $43.85. 1,778,825 shares of the company’s stock were exchanged, compared to its average volume of 3,017,748. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $6.27 billion, a PE ratio of -56.21, a price-to-earnings-growth ratio of 1.07 and a beta of 1.35. Fluor has a one year low of $29.20 and a one year high of $57.50. The business’s fifty day simple moving average is $46.72 and its two-hundred day simple moving average is $44.66.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. Analysts anticipate that Fluor will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fluor news, insider Kevin B. Hammonds sold 2,988 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $52.61, for a total transaction of $157,198.68. Following the transaction, the insider owned 16,273 shares of the company’s stock, valued at approximately $856,122.53. This represents a 15.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark E. Fields sold 5,178 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the transaction, the insider owned 194,514 shares in the company, valued at $10,184,753.04. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,110 shares of company stock valued at $1,168,920. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in shares of Fluor by 6.6% during the third quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company’s stock worth $151,000 after buying an additional 223 shares in the last quarter. Seelaus Asset Management LLC grew its position in Fluor by 2.9% during the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock worth $348,000 after acquiring an additional 245 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after purchasing an additional 248 shares in the last quarter. Brighton Jones LLC raised its position in Fluor by 3.1% in the third quarter. Brighton Jones LLC now owns 9,060 shares of the construction company’s stock valued at $381,000 after purchasing an additional 273 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in shares of Fluor by 20.9% during the third quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company’s stock valued at $67,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

About Fluor

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.