Short Interest in Fluor Co. (NYSE:FLR) Grows By 5.4%

Fluor Co. (NYSE:FLR) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 4,870,000 shares, an increase of 5.4% from the May 15th total of 4,620,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 3.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Insight Wealth Strategies LLC bought a new stake in Fluor during the 4th quarter worth about $1,020,000. Principal Financial Group Inc. raised its holdings in Fluor by 18.5% during the 4th quarter. Principal Financial Group Inc. now owns 631,381 shares of the construction company’s stock worth $24,731,000 after purchasing an additional 98,381 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Fluor during the 4th quarter worth about $5,123,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Fluor by 385.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock worth $6,934,000 after purchasing an additional 149,990 shares during the last quarter. Finally, Sona Asset Management US LLC bought a new stake in Fluor during the 4th quarter worth about $3,521,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FLR shares. TheStreet lowered shares of Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Citigroup raised their target price on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Robert W. Baird boosted their price objective on shares of Fluor from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $47.00 target price (up from $46.00) on shares of Fluor in a report on Monday, May 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Fluor Price Performance

Shares of FLR traded up $0.33 during mid-day trading on Tuesday, hitting $45.35. The company’s stock had a trading volume of 1,511,724 shares, compared to its average volume of 1,516,640. Fluor has a fifty-two week low of $27.95 and a fifty-two week high of $45.60. The firm has a 50-day moving average price of $41.12 and a 200 day moving average price of $39.64. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.43 and a beta of 2.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.67 and a quick ratio of 1.67.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Fluor had a net margin of 1.97% and a return on equity of 24.98%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts predict that Fluor will post 2.86 EPS for the current fiscal year.

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.