Fluor (NYSE:FLR) Stock Price Up 3.8% - Here's Why

Shares of Fluor Co. (NYSE:FLR - Get Free Report) traded up 3.8% during trading on Friday . The stock traded as high as $52.88 and last traded at $52.75. 352,158 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,681,200 shares. The stock had previously closed at $50.80.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLR. Truist Financial raised their target price on shares of Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. KeyCorp boosted their price objective on Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. UBS Group increased their price target on Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. DA Davidson lifted their price objective on shares of Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Robert W. Baird increased their target price on shares of Fluor from $46.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.29.

Fluor Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $8.91 billion, a P/E ratio of 34.62, a PEG ratio of 3.93 and a beta of 1.90. The company's fifty day simple moving average is $50.14 and its 200-day simple moving average is $46.73.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (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 analysts' expectations of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. Research analysts predict that Fluor Co. will post 2.62 earnings per share for the current year.

Insider Activity at Fluor

In related news, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares of the company's stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 31,261 shares of company stock valued at $1,528,574 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Large investors have recently made changes to their positions in the business. CIBC Asset Management Inc increased its position in Fluor by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company's stock valued at $235,000 after buying an additional 176 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in shares of Fluor by 3.7% during the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company's stock valued at $307,000 after acquiring an additional 230 shares in the last quarter. ClariVest Asset Management LLC raised its position in shares of Fluor by 0.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company's stock valued at $3,379,000 after purchasing an additional 233 shares during the last quarter. Xponance Inc. boosted its stake in Fluor by 1.2% in the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company's stock worth $1,006,000 after purchasing an additional 265 shares in the last quarter. Finally, JGP Wealth Management LLC increased its stake in Fluor by 5.6% during the 3rd quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company's stock valued at $253,000 after purchasing an additional 283 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

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.