Fluor (NYSE:FLR) Sees Unusually-High Trading Volume - Time to Buy?

Shares of Fluor Co. (NYSE:FLR - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 968,994 shares were traded during trading, a decline of 43% from the previous session's volume of 1,696,186 shares.The stock last traded at $52.07 and had previously closed at $52.95.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup raised shares of 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 report on Tuesday, October 22nd. KeyCorp upped their price objective on Fluor from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. UBS Group lifted their target price on Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Truist Financial raised their price target on shares of Fluor from $61.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird increased their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Fluor presently has a consensus rating of "Moderate Buy" and an average target price of $60.29.

Fluor Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.98 billion, a P/E ratio of 35.30, a price-to-earnings-growth ratio of 4.06 and a beta of 1.90. The company has a 50 day moving average price of $50.32 and a 200-day moving average price of $46.90.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 EPS. On average, equities analysts expect that Fluor Co. will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This represents a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 31,261 shares of company stock valued at $1,528,574 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLR. Neo Ivy Capital Management bought a new stake in shares of Fluor in the 3rd quarter valued at about $2,166,000. Coldstream Capital Management Inc. increased its position in Fluor by 4.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company's stock valued at $286,000 after purchasing an additional 277 shares during the period. Geode Capital Management LLC raised its holdings in Fluor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company's stock worth $190,953,000 after purchasing an additional 51,018 shares during the last quarter. Aequim Alternative Investments LP boosted its stake in shares of Fluor by 6.0% in the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company's stock valued at $35,437,000 after purchasing an additional 41,800 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Fluor during the third quarter worth $983,000. 88.07% of the stock is owned by institutional investors.

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.

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