Fluor (NYSE:FLR) Shares Up 3.8% – Still a Buy?

Fluor Co. (NYSE:FLR)’s share price traded up 3.8% during mid-day trading on Friday . The stock traded as high as $52.88 and last traded at $52.75. 352,158 shares changed hands during trading, a decline of 79% from the average session volume of 1,681,200 shares. The stock had previously closed at $50.80.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FLR shares. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson raised their price target on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. KeyCorp increased their price target on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price target on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Fluor Trading Up 2.2 %

The firm has a market capitalization of $8.91 billion, a PE ratio of 34.61, a P/E/G ratio of 3.93 and a beta of 1.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average price is $50.14 and its 200 day moving average price is $46.78.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Fluor Co. will post 2.62 EPS for the current fiscal year.

Insider Activity

In related news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares in the company, valued at $2,107,972.40. This represents a 21.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 31,261 shares of company stock valued at $1,528,574. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Fluor by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock worth $723,507,000 after acquiring an additional 51,322 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fluor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock worth $190,953,000 after buying an additional 51,018 shares during the period. Rubric Capital Management LP grew its position in shares of Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after buying an additional 323,111 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the last quarter. 88.07% of the stock is currently owned by 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.