Fluor Sees Unusually Large Options Volume (NYSE:FLR)

Fluor Co. (NYSE:FLR) was the target of unusually large options trading on Wednesday. Traders acquired 7,949 call options on the stock. This is an increase of approximately 43% compared to the average daily volume of 5,548 call options.

Fluor Price Performance

Shares of FLR stock traded up $3.32 during trading hours on Wednesday, hitting $48.19. The company had a trading volume of 2,920,398 shares, compared to its average volume of 2,448,260. Fluor has a 12 month low of $29.20 and a 12 month high of $60.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The firm’s fifty day moving average is $37.10 and its 200 day moving average is $42.97. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 1.36 and a beta of 1.30.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.50 by $0.23. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. Fluor’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Fluor will post 2.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FLR. KeyCorp cut their price objective on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Barclays set a $40.00 price objective on Fluor and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. DA Davidson lowered their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Citigroup cut their target price on Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Truist Financial lifted their price target on shares of Fluor from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Fluor has a consensus rating of “Moderate Buy” and a consensus target price of $45.43.

Insider Buying and Selling

In related news, insider Alvin C. Collins III sold 18,920 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction of $859,535.60. Following the transaction, the insider now owns 64,383 shares of the company’s stock, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluor

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Fluor during the fourth quarter worth about $3,667,000. Cinctive Capital Management LP acquired a new position in shares of Fluor in the 4th quarter worth approximately $1,131,000. LPL Financial LLC boosted its holdings in shares of Fluor by 19.3% in the 4th quarter. LPL Financial LLC now owns 118,652 shares of the construction company’s stock worth $5,852,000 after acquiring an additional 19,161 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Fluor by 43.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after acquiring an additional 287 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Fluor during the 4th quarter valued at $2,926,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.