Fluor (NYSE:FLR) Sets New 1-Year High – Here’s Why

Fluor Co. (NYSE:FLR) shares reached a new 52-week high during trading on Monday . The company traded as high as $51.66 and last traded at $51.49, with a volume of 261694 shares. The stock had previously closed at $51.06.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FLR. Truist Financial boosted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays upped their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. DA Davidson upped their price objective on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 5th. UBS Group upped their price objective on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Citigroup increased their target price on Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

Fluor Price Performance

The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 2.18 and a beta of 1.91. 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 company has a 50 day simple moving average of $47.82 and a 200 day simple moving average of $44.72.

Fluor (NYSE:FLR) last posted 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. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that Fluor Co. will post 2.88 EPS for the current year.

Insider Activity

In other Fluor news, 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 transaction of $584,435.70. Following the sale, the chief financial officer now directly owns 41,908 shares in the company, valued at $2,107,972.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. This 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 accessible through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in Fluor by 35.5% in the 3rd quarter. Creative Planning now owns 42,001 shares of the construction company’s stock valued at $2,004,000 after acquiring an additional 11,014 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Fluor by 56.4% during the third quarter. Exchange Traded Concepts LLC now owns 11,133 shares of the construction company’s stock valued at $531,000 after buying an additional 4,015 shares in the last quarter. Westend Capital Management LLC lifted its stake in Fluor by 0.6% during the third quarter. Westend Capital Management LLC now owns 251,699 shares of the construction company’s stock valued at $12,009,000 after buying an additional 1,602 shares in the last quarter. Meyer Handelman Co. acquired a new position in shares of Fluor in the 3rd quarter valued at about $267,000. Finally, JGP Wealth Management LLC increased its holdings in shares of Fluor by 5.6% in the 3rd quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock valued at $253,000 after purchasing an additional 283 shares during the period. Institutional investors own 88.07% of the company’s stock.

About Fluor

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.