Fluor Target of Unusually High Options Trading (NYSE:FLR)

Fluor Corporation (NYSE:FLR) was the target of unusually large options trading activity on Tuesday. Stock investors bought 21,053 call options on the company. This represents an increase of 399% compared to the average volume of 4,218 call options.

Fluor Stock Down 5.9%

NYSE:FLR traded down $3.02 on Tuesday, hitting $48.44. 1,042,605 shares of the company’s stock were exchanged, compared to its average volume of 2,760,971. The firm has a 50-day moving average price of $49.15 and a 200-day moving average price of $47.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. Fluor has a 52 week low of $37.62 and a 52 week high of $57.50. The company has a market cap of $6.77 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned $0.73 EPS. Fluor’s revenue was down 8.0% on a year-over-year basis. As a group, analysts expect that Fluor will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Starboard Value LP acquired a new position in shares of Fluor during the 4th quarter worth about $205,732,000. Rubric Capital Management LP acquired a new stake in Fluor in the 2nd quarter valued at about $205,080,000. AQR Capital Management LLC grew its holdings in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after purchasing an additional 3,203,712 shares during the period. Sourcerock Group LLC acquired a new position in Fluor during the second quarter worth approximately $85,327,000. Finally, Maverick Capital Ltd. acquired a new position in Fluor during the first quarter worth approximately $66,036,000. Institutional investors own 88.07% of the company’s stock.

Wall Street Analyst Weigh In

FLR has been the subject of a number of research reports. Robert W. Baird increased their target price on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Truist Financial increased their price objective on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Zacks Research lowered Fluor from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. Finally, Citigroup cut their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.