Fluor Target of Unusually Large Options Trading (NYSE:FLR)

Fluor Co. (NYSE:FLR) was the recipient of some unusual options trading on Thursday. Stock investors bought 10,734 call options on the company. This represents an increase of approximately 152% compared to the typical daily volume of 4,256 call options.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Truist Financial upped their price target on Fluor from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, DA Davidson increased their target price on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.86.

Fluor Price Performance

Shares of NYSE FLR opened at $49.27 on Friday. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The firm has a 50-day simple moving average of $53.08 and a 200-day simple moving average of $49.55. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last issued its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts predict that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the 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 sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This trade represents a 21.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now directly owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,300 shares of company stock worth $3,849,067 over the last quarter. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FLR. Allspring Global Investments Holdings LLC grew its stake in shares of Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after buying an additional 930 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Fluor in the second quarter valued at $51,000. Quest Partners LLC acquired a new position in shares of Fluor in the 2nd quarter valued at $52,000. Quarry LP increased its position in shares of Fluor by 244.7% during the 3rd quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Fluor in the 3rd quarter valued at about $96,000. Institutional investors and hedge funds 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.