Fluor Co. (NYSE:FLR) Sees Significant Growth in Short Interest

Fluor Co. (NYSE:FLR) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 6,600,000 shares, a growth of 5.6% from the October 31st total of 6,250,000 shares. Based on an average daily trading volume, of 2,130,000 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

FLR has been the topic of several research reports. Robert W. Baird increased their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial boosted their target price on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson raised their price objective on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, KeyCorp upped their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Stock Down 1.4 %

Shares of NYSE:FLR traded down $0.76 during midday trading on Tuesday, reaching $54.35. The company had a trading volume of 1,067,172 shares, compared to its average volume of 1,708,622. The stock has a market capitalization of $9.32 billion, a P/E ratio of 35.87, a PEG ratio of 4.39 and a beta of 1.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. Fluor has a one year low of $35.04 and a one year high of $60.10. The stock’s fifty day moving average price is $52.13 and its 200-day moving average price is $48.05.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Fluor

In related news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,261 shares of company stock worth $4,360,074 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in Fluor in the second quarter worth $34,000. GAMMA Investing LLC lifted its stake in Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake 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 buying an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Fluor during the 2nd quarter worth approximately $51,000. Finally, Quest Partners LLC bought a new stake in Fluor during the second quarter worth $52,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.