Fluor (NYSE:FLR) Sets New 12-Month High – Here’s What Happened

Shares of Fluor Co. (NYSE:FLR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $55.86 and last traded at $55.11, with a volume of 241405 shares changing hands. The stock had previously closed at $55.00.

Analyst Ratings Changes

Several research firms have recently issued reports on FLR. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday. DA Davidson lifted their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group raised their price objective on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Wednesday, July 17th. Finally, Robert W. Baird increased their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $56.57.

Fluor Stock Performance

The firm has a fifty day moving average of $48.61 and a 200-day moving average of $45.28. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.19 billion, a P/E ratio of 31.20, a PEG ratio of 2.18 and a beta of 1.91.

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

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, 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 value of $729,485.95. Following the completion of the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their ownership of the stock. 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 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now directly owns 41,908 shares in the company, valued at approximately $2,107,972.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC bought a new position in shares of Fluor in the second quarter worth approximately $34,000. GAMMA Investing LLC boosted its stake in shares of Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after buying an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Fluor during the second quarter valued at about $51,000. Finally, Quest Partners LLC purchased a new stake in Fluor in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors 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.