Fluor (NYSE:FLR) Shares Gap Down After Earnings Miss

Shares of Fluor Co. (NYSE:FLR) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $43.40, but opened at $41.65. Fluor shares last traded at $40.36, with a volume of 1,225,546 shares.

The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 1.64% and a return on equity of 20.05%.

Wall Street Analysts Forecast Growth

FLR has been the subject of a number of research reports. UBS Group lifted their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. KeyCorp lifted their price objective on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. DA Davidson boosted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $58.00 target price (up previously from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.29.

Insider Activity

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following the sale, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluor

A number of large investors have recently added to or reduced their stakes in FLR. Neo Ivy Capital Management raised its position in Fluor by 45.2% during the fourth quarter. Neo Ivy Capital Management now owns 65,943 shares of the construction company’s stock valued at $3,252,000 after purchasing an additional 20,541 shares in the last quarter. State of Wyoming increased its stake in shares of Fluor by 165.6% in the 4th quarter. State of Wyoming now owns 5,068 shares of the construction company’s stock valued at $250,000 after acquiring an additional 3,160 shares in the last quarter. Tema Etfs LLC acquired a new position in Fluor during the 4th quarter worth approximately $5,317,000. Point72 Hong Kong Ltd lifted its stake in shares of Fluor by 15.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 43,248 shares of the construction company’s stock valued at $2,133,000 after buying an additional 5,849 shares in the last quarter. Finally, Potrero Capital Research LLC bought a new position in shares of Fluor in the fourth quarter valued at approximately $14,115,000. Institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

The stock has a market cap of $6.82 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 3.45 and a beta of 1.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The company’s 50 day simple moving average is $49.64 and its 200 day simple moving average is $50.22.

Fluor Company Profile

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.