Fluor (NYSE:FLR) Shares Gap Down After Earnings Miss

Shares of Fluor Co. (NYSE:FLR) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $43.40, but opened at $41.65. Fluor shares last traded at $40.36, with a volume of 1,225,546 shares changing hands.

The construction company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a net margin of 1.64% and a return on equity of 20.05%.

Wall Street Analysts Forecast Growth

FLR has been the subject of several recent analyst reports. KeyCorp raised their price objective on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. UBS Group raised their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial cut their price target on Fluor from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird reiterated a “neutral” rating and issued a $58.00 price objective (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Finally, Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and an average target price of $59.29.

Insiders Place Their Bets

In other news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Institutional investors have recently modified their holdings of the stock. Cornerstone Wealth Management LLC bought a new stake in Fluor during the fourth quarter worth about $484,000. Exchange Traded Concepts LLC lifted its holdings in shares of Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock worth $2,151,000 after acquiring an additional 32,472 shares during the period. Aequim Alternative Investments LP increased its stake in Fluor by 6.0% in the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after acquiring an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock valued at $819,000 after purchasing an additional 9,992 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.88 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 3.45 and a beta of 1.89. The company has a 50 day moving average price of $49.95 and a 200-day moving average price of $50.27.

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.