Fluor (NYSE:FLR) Sees Large Volume Increase – What’s Next?

Fluor Co. (NYSE:FLR) shares saw unusually-strong trading volume on Tuesday . Approximately 968,994 shares changed hands during trading, a decline of 43% from the previous session’s volume of 1,696,186 shares.The stock last traded at $52.07 and had previously closed at $52.95.

Analyst Upgrades and Downgrades

FLR has been the subject of a number of research analyst reports. Truist Financial lifted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group boosted their target price on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson lifted their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. KeyCorp increased their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Citigroup raised Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

Fluor Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The company has a fifty day moving average price of $50.32 and a 200 day moving average price of $46.90. The company has a market cap of $8.98 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 4.06 and a beta of 1.90.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Fluor’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. As a group, analysts anticipate that Fluor Co. will post 2.62 EPS for the current year.

Insider Buying and Selling

In other news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 31,261 shares of company stock worth $1,528,574 in the last 90 days. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc increased its stake in shares of Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after buying an additional 176 shares during the period. Seelaus Asset Management LLC increased its position in Fluor by 3.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after purchasing an additional 230 shares during the period. ClariVest Asset Management LLC raised its holdings in Fluor by 0.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after purchasing an additional 233 shares in the last quarter. Xponance Inc. lifted its position in shares of Fluor by 1.2% in the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after purchasing an additional 265 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Fluor by 4.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after purchasing an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

About Fluor

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.