Short Interest in Fluor Co. (NYSE:FLR) Grows By 5.4%

Fluor Co. (NYSE:FLRGet Free Report) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 4,870,000 shares, an increase of 5.4% from the May 15th total of 4,620,000 shares. Based on an average daily volume of 1,380,000 shares, the short-interest ratio is presently 3.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fluor by 0.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock valued at $2,739,000 after acquiring an additional 286 shares during the period. Lesa Sroufe & Co increased its position in Fluor by 0.6% during the first quarter. Lesa Sroufe & Co now owns 50,950 shares of the construction company’s stock worth $2,154,000 after acquiring an additional 312 shares during the period. Cornercap Investment Counsel Inc. boosted its holdings in Fluor by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 14,039 shares of the construction company’s stock valued at $550,000 after purchasing an additional 326 shares during the period. Parallel Advisors LLC raised its position in shares of Fluor by 19.6% in the fourth quarter. Parallel Advisors LLC now owns 2,053 shares of the construction company’s stock valued at $80,000 after buying an additional 337 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Fluor by 59.2% in the fourth quarter. Spire Wealth Management now owns 1,008 shares of the construction company’s stock valued at $37,000 after buying an additional 375 shares during the period. Institutional investors own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Truist Financial restated a “buy” rating and set a $47.00 target price (up from $46.00) on shares of Fluor in a research report on Monday, May 6th. TheStreet downgraded shares of Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Finally, Robert W. Baird boosted their price objective on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

Read Our Latest Research Report on FLR

Fluor Stock Up 0.7 %

Shares of NYSE:FLR traded up $0.33 during midday trading on Wednesday, reaching $45.35. The company had a trading volume of 1,511,887 shares, compared to its average volume of 1,432,640. Fluor has a 1-year low of $27.95 and a 1-year high of $45.60. The stock has a market cap of $7.76 billion, a PE ratio of 26.37, a P/E/G ratio of 2.45 and a beta of 2.03. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average price is $41.20 and its 200 day moving average price is $39.69.

Fluor (NYSE:FLRGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Fluor had a return on equity of 24.98% and a net margin of 1.97%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that Fluor will post 2.86 EPS for the current fiscal year.

About Fluor

(Get Free Report)

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.

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