Fluor (NYSE:FLR) Sees Large Volume Increase – Still a Buy?

Fluor Co. (NYSE:FLR) saw unusually-strong trading volume on Tuesday . Approximately 968,994 shares traded hands during mid-day trading, a decline of 43% from the previous session’s volume of 1,696,186 shares.The stock last traded at $52.07 and had previously closed at $52.95.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson raised their price objective 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. KeyCorp raised their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Fluor Trading Down 0.3 %

The firm has a market cap of $9.01 billion, a PE ratio of 35.02, a P/E/G ratio of 4.12 and a beta of 1.90. The company’s fifty day moving average price is $50.65 and its two-hundred day moving average price is $47.04. 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 announced its quarterly earnings data 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 company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business earned $1.02 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Fluor Co. 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 4,012 shares of Fluor stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the transaction, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 31,261 shares of company stock worth $1,528,574 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. State Board of Administration of Florida Retirement System raised its position in Fluor by 12.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 45,644 shares of the construction company’s stock worth $1,930,000 after acquiring an additional 4,910 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Fluor by 0.3% during the first quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company’s stock worth $723,507,000 after buying an additional 51,322 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Fluor by 8.8% during the first quarter. Advisors Asset Management Inc. now owns 65,598 shares of the construction company’s stock worth $2,773,000 after buying an additional 5,310 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Fluor during the first quarter worth about $605,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Fluor by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 103,721 shares of the construction company’s stock worth $4,386,000 after buying an additional 5,224 shares in the last quarter. 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.