Fluor (NYSE:FLR) Reaches New 52-Week High – What’s Next?

Fluor Co. (NYSE:FLR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.50 and last traded at $58.50, with a volume of 19239 shares traded. The stock had previously closed at $54.59.

Analysts Set New Price Targets

FLR has been the topic of a number of analyst reports. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. DA Davidson raised their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial increased their price target on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays increased their price target on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and an average price target of $58.29.

Fluor Stock Performance

The stock’s 50 day moving average price is $49.41 and its 200 day moving average price is $46.14. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $10.08 billion, a PE ratio of 25.56, a P/E/G ratio of 2.29 and a beta of 1.90.

Insider Activity

In other news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares of the company’s stock, 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 available at this link. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the sale, the chief financial officer now owns 41,908 shares in the company, valued at $2,107,972.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,261 shares of company stock valued at $2,156,604. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its stake in Fluor by 20.3% during the first quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock worth $3,311,000 after purchasing an additional 13,203 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Fluor by 230.5% in the second quarter. Harbor Capital Advisors Inc. now owns 59,403 shares of the construction company’s stock worth $2,587,000 after buying an additional 41,428 shares during the period. Swiss National Bank increased its position in Fluor by 19.1% in the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock worth $14,223,000 after buying an additional 53,900 shares during the period. AQR Capital Management LLC increased its position in Fluor by 63.8% in the second quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after buying an additional 222,070 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Fluor by 19.8% in the first quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock worth $9,568,000 after buying an additional 37,435 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.