Fluor Co. (NYSE:FLR) Sees Large Growth in Short Interest

Fluor Co. (NYSE:FLR) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 7,350,000 shares, an increase of 35.6% from the June 30th total of 5,420,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 4.7 days.

Analyst Ratings Changes

A number of brokerages have issued reports on FLR. Truist Financial raised their price target on shares of Fluor from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a research note on Wednesday, July 17th. Barclays lifted their price target on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Robert W. Baird lifted their price target on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Citigroup lifted their price target on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

Fluor Trading Up 1.2 %

NYSE FLR opened at $48.18 on Monday. The company’s 50-day moving average price is $44.62 and its 200-day moving average price is $41.11. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.56. The stock has a market cap of $8.25 billion, a PE ratio of 28.01, a PEG ratio of 2.59 and a beta of 1.99. Fluor has a 12 month low of $30.09 and a 12 month high of $51.64.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Fluor had a return on equity of 24.98% and a net margin of 1.97%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts forecast that Fluor will post 2.9 earnings per share for the current year.

Hedge Funds Weigh In On Fluor

Hedge funds have recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in shares of Fluor during the first quarter valued at about $28,000. GAMMA Investing LLC acquired a new position in Fluor in the 4th quarter worth approximately $27,000. ORG Partners LLC acquired a new position in Fluor in the 2nd quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. acquired a new position in Fluor in the 4th quarter worth approximately $34,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Fluor in the 4th quarter worth approximately $36,000. 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.