Fluor (NYSE:FLR) Shares Climb 4.2% – Here’s Why

Fluor Corporation (NYSE:FLR) traded up 4.2% on Tuesday. The company traded as high as $50.81 and last traded at $51.2870. 289,498 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,641,078 shares. The stock had previously closed at $49.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a report on Monday, August 10th. Robert W. Baird raised their price objective on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Barclays increased their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, Truist Financial reissued a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.33.

Fluor Stock Up 1.3%

The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of -4.07, a PEG ratio of 1.04 and a beta of 1.26. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The firm’s 50 day simple moving average is $52.89 and its 200-day simple moving average is $50.01.

Fluor (NYSE:FLR) last released its earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned $0.43 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Fluor Corporation will post 2.67 EPS for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares in the company, valued at $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its stake in Fluor by 49.8% in the 2nd quarter. Engineers Gate Manager LP now owns 43,131 shares of the construction company’s stock valued at $2,260,000 after buying an additional 14,331 shares in the last quarter. NewEdge Advisors LLC grew its position in Fluor by 10.0% in the second quarter. NewEdge Advisors LLC now owns 5,092 shares of the construction company’s stock valued at $267,000 after acquiring an additional 464 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Fluor during the 2nd quarter worth $9,503,000. Baird Financial Group Inc. lifted its stake in shares of Fluor by 8.5% in the second quarter. Baird Financial Group Inc. now owns 298,924 shares of the construction company’s stock worth $15,661,000 after acquiring an additional 23,351 shares in the last quarter. Finally, West Family Investments Inc. purchased a new position in shares of Fluor during the 2nd quarter valued at approximately $206,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.