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

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on FLR shares. DA Davidson raised their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial raised 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. UBS Group lifted their price objective on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Wednesday, July 17th. Finally, Robert W. Baird lifted 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.71.

Fluor Stock Performance

The stock has a 50 day moving average price of $47.82 and a two-hundred day moving average price of $44.72. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. 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.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the business earned $0.76 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that Fluor Co. will post 2.88 EPS for the current fiscal year.

Insider Activity

In other news, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was 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 of the company’s stock, valued at $2,751,163.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of the company’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 transaction, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This trade represents 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 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Fluor in the 1st quarter valued at $28,000. ORG Partners LLC bought a new stake in Fluor in the 2nd quarter valued at $34,000. GAMMA Investing LLC raised its stake in Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC raised its stake in 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 acquiring an additional 930 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Fluor in the 2nd quarter valued at $51,000. Institutional investors 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.