Fluor (NYSE:FLR) Hits New 52-Week High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FLR. Truist Financial boosted their target price on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup increased their target price on Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. UBS Group boosted their price target on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a report on Wednesday, July 17th. Finally, DA Davidson upped their target price on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.71.

Fluor Price Performance

The firm’s fifty day simple moving average is $48.00 and its two-hundred day simple moving average is $44.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.35 billion, a PE ratio of 31.42, a P/E/G 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 for the quarter, topping the consensus estimate of $0.68 by $0.17. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Fluor’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts expect that Fluor Co. will post 2.88 EPS for the current year.

Insider Transactions at Fluor

In other news, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO John C. Regan sold 13,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the business’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 sale, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluor

A number of large investors have recently made changes to their positions in FLR. Rise Advisors LLC bought a new stake in shares of Fluor during the first quarter worth $28,000. ORG Partners LLC bought a new position in Fluor in the 2nd quarter worth about $34,000. GAMMA Investing LLC increased its position in shares of Fluor by 46.4% during the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Fluor by 6,642.9% during the second 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fluor in the second quarter valued at approximately $51,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.