Fluor Co. (NYSE:FLR) Short Interest Update

Fluor Co. (NYSE:FLR) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 4,100,000 shares, a drop of 25.6% from the March 31st total of 5,510,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 3.0% of the shares of the company are short sold.

Shares of NYSE FLR traded up $0.53 during mid-day trading on Tuesday, reaching $23.95. 3,863,733 shares of the company were exchanged, compared to its average volume of 2,283,277. Fluor has a twelve month low of $7.43 and a twelve month high of $24.79. The stock has a market capitalization of $3.37 billion, a P/E ratio of -5.78 and a beta of 2.85. The company’s 50-day simple moving average is $22.31 and its 200-day simple moving average is $18.09. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.28.

Fluor (NYSE:FLR) last released its quarterly earnings results on Thursday, February 25th. The construction company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.93). Fluor had a positive return on equity of 10.56% and a negative net margin of 3.63%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. Fluor’s revenue was down 23.9% compared to the same quarter last year. As a group, equities research analysts expect that Fluor will post 0.23 EPS for the current year.

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Fluor from $18.00 to $23.00 in a research note on Wednesday, April 21st. Credit Suisse Group cut their target price on shares of Fluor from $19.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 8th. Zacks Investment Research upgraded shares of Fluor from a “strong sell” rating to a “hold” rating and set a $24.00 target price for the company in a research note on Friday. Finally, Vertical Research upgraded shares of Fluor from a “hold” rating to a “buy” rating in a research note on Thursday, January 21st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.20.

A number of large investors have recently added to or reduced their stakes in FLR. First Trust Advisors LP increased its position in Fluor by 579.5% during the first quarter. First Trust Advisors LP now owns 141,476 shares of the construction company’s stock worth $5,206,000 after acquiring an additional 120,656 shares during the period. Eudaimonia Partners LLC bought a new position in Fluor in the 3rd quarter valued at about $53,000. Sei Investments Co. increased its holdings in Fluor by 16.3% in the 3rd quarter. Sei Investments Co. now owns 45,600 shares of the construction company’s stock valued at $402,000 after buying an additional 6,384 shares during the period. First Hawaiian Bank bought a new position in Fluor in the 4th quarter valued at about $337,000. Finally, Fruth Investment Management bought a new position in Fluor in the 4th quarter valued at about $166,000. 64.57% of the stock is currently owned by institutional investors and hedge funds.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through six segments: Energy & Chemicals; Mining & Industrial; Infrastructure & Power; Government; Diversified Services; and Other.

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