Fluor (NYSE:FLR) Shares Gap Down After Earnings Miss

Fluor Co. (NYSE:FLR) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $43.40, but opened at $41.65. Fluor shares last traded at $40.36, with a volume of 1,225,546 shares changing hands.

The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a return on equity of 20.05% and a net margin of 1.64%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FLR. Robert W. Baird restated a “neutral” rating and set a $58.00 price objective (up previously from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Citigroup cut their price target on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. KeyCorp increased their price target on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, UBS Group lifted their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.29.

Insider Activity

In related news, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total transaction of $433,131.59. Following the sale, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Fluor in the fourth quarter valued at $484,000. Exchange Traded Concepts LLC increased its stake in shares of Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after acquiring an additional 32,472 shares during the last quarter. Aequim Alternative Investments LP boosted its position in shares of Fluor by 6.0% in the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after acquiring an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after purchasing an additional 9,992 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after purchasing an additional 457,220 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Price Performance

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $6.82 billion, a PE ratio of 26.50, a PEG ratio of 3.45 and a beta of 1.89. The company’s 50 day moving average price is $49.64 and its 200-day moving average price is $50.22.

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.