Fluor Corporation (NYSE:FLR – Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $57.99 and last traded at $58.1770, with a volume of 859289 shares changing hands. The stock had previously closed at $56.60.
Analyst Ratings Changes
FLR has been the topic of several analyst reports. Barclays upped their price objective on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Robert W. Baird boosted their price target on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Citigroup increased their price objective on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Finally, Truist Financial reissued a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.33.
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Fluor Stock Performance
Fluor (NYSE:FLR – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.21. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. On average, sell-side analysts anticipate that Fluor Corporation will post 2.66 EPS for the current year.
Insider Activity at Fluor
In related news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the transaction, the insider directly owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of Fluor during the 2nd quarter valued at approximately $25,000. Ancora Advisors LLC bought a new stake in Fluor during the 2nd quarter worth approximately $31,000. Los Angeles Capital Management LLC purchased a new position in Fluor during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its stake in shares of Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares in the last quarter. Finally, Banque Transatlantique SA raised its position in shares of Fluor by 312.5% during the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after purchasing an additional 625 shares during the period. Institutional investors own 88.07% of the company’s stock.
Fluor Company Profile
Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.
Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.
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