Fluor (NYSE:FLR) Shares Gap Up – What’s Next?

Fluor Co. (NYSE:FLR) shares gapped up prior to trading on Tuesday . The stock had previously closed at $53.86, but opened at $55.31. Fluor shares last traded at $54.27, with a volume of 152,024 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on FLR. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $65.00 in a research report on Tuesday. DA Davidson raised their price objective on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. 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. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Wednesday, July 17th. Finally, Robert W. Baird increased their price objective 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.57.

Fluor Trading Up 0.3 %

The company has a market capitalization of $9.25 billion, a PE ratio of 31.41, a PEG ratio of 2.18 and a beta of 1.91. 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 business’s 50-day simple moving average is $48.50 and its two-hundred day simple moving average is $45.20.

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

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at $2,676,885.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the sale, the chief accounting officer now owns 55,965 shares in the company, valued at approximately $2,703,669.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,261 shares of company stock worth $2,156,604 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. grew its position in Fluor by 18.0% during the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock valued at $34,276,000 after purchasing an additional 123,500 shares in the last quarter. Diversified Trust Co purchased a new position in Fluor in the first quarter valued at about $1,368,000. Janus Henderson Group PLC increased its position in Fluor by 20.3% in the 1st 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 holdings 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 last quarter. Finally, Swiss National Bank lifted its stake in Fluor by 19.1% in the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock valued at $14,223,000 after acquiring an additional 53,900 shares during the last quarter. 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.