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

Fluor Co. (NYSE:FLR) saw an uptick in trading volume on Tuesday . 968,994 shares traded hands during 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 Upgrades and Downgrades

FLR has been the subject of a number of recent analyst reports. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson boosted their price objective on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group boosted their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their price objective on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, KeyCorp boosted their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.29.

Fluor Stock Down 0.3 %

The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 4.12 and a beta of 1.90. The stock’s fifty day simple moving average is $50.65 and its two-hundred day simple moving average is $47.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last issued its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $1.02 earnings per share. On average, sell-side analysts predict that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares in the company, valued at approximately $2,107,972.40. This represents a 21.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 31,261 shares of company stock worth $1,528,574. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Institutional investors have recently modified their holdings of the company. ORG Partners LLC bought a new position in shares of Fluor during the second quarter worth about $34,000. GAMMA Investing LLC grew its position 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 buying an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position 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 buying an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Fluor in the 2nd quarter valued at about $51,000. Finally, Quest Partners LLC bought a new position in Fluor in the 2nd quarter valued at about $52,000. Institutional investors own 88.07% of the company’s stock.

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.