Fluor (NYSE:FLR) Shares Gap Up – Should You Buy?

Shares of Fluor Co. (NYSE:FLR) gapped up prior to trading on Tuesday . The stock had previously closed at $53.86, but opened at $55.31. Fluor shares last traded at $54.27, with a volume of 152,024 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DA Davidson raised their target price on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays lifted their target price on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird raised their price target on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Citigroup raised Fluor from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $65.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus price target of $56.57.

Fluor Stock Up 0.3 %

The company has a market capitalization of $9.25 billion, a PE ratio of 31.41, a P/E/G ratio of 2.18 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The company’s 50-day moving average is $48.50 and its 200 day moving average is $45.20.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the business posted $0.76 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Fluor Co. will post 2.88 EPS for the current year.

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the sale, the chief financial officer now owns 41,908 shares in the company, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ORG Partners LLC purchased a new stake in shares of Fluor during the second quarter worth approximately $34,000. GAMMA Investing LLC increased its holdings in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after purchasing an additional 285 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Fluor in the second quarter valued at approximately $51,000. Finally, Quest Partners LLC acquired a new position in Fluor in the second quarter valued at $52,000. Institutional investors and hedge funds 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.