Fluor (NYSE:FLR) Shares Gap Up – Still a Buy?

Fluor Co. (NYSE:FLR) gapped up prior to trading on Tuesday . The stock had previously closed at $53.86, but opened at $55.31. Fluor shares last traded at $54.27, with a volume of 152,024 shares traded.

Analyst Ratings Changes

FLR has been the subject of several recent analyst reports. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a research report on Wednesday, July 17th. Robert W. Baird upped their price target on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. DA Davidson lifted their price objective on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday. Finally, UBS Group raised 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor presently has an average rating of “Moderate Buy” and a consensus target price of $58.29.

Fluor Stock Down 1.6 %

The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 2.18 and a beta of 1.91. The stock has a fifty day moving average of $48.69 and a two-hundred day moving average of $45.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company earned $0.76 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Fluor Co. will post 2.88 earnings per share for the current year.

Insider Transactions at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company’s stock, valued at $2,751,163.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 over the last three months. 1.70% of the stock is owned by company insiders.

Institutional Trading of Fluor

Large investors have recently made changes to their positions in the company. ClariVest Asset Management LLC boosted its holdings in Fluor by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after acquiring an additional 233 shares in the last quarter. Xponance Inc. raised its holdings in Fluor by 1.2% during the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after buying an additional 265 shares during the last quarter. JGP Wealth Management LLC grew its holdings in shares of Fluor by 5.6% during the third quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock valued at $253,000 after buying an additional 283 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Fluor by 46.4% during the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position 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 in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.