Fluor (NYSE:FLR) Shares Gap Up - What's Next?

Shares of Fluor Co. (NYSE:FLR - Get Free Report) 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 changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. KeyCorp upgraded shares of Fluor from a "sector weight" rating to an "overweight" rating and set a $57.00 target price for the company in a research report on Wednesday, July 17th. UBS Group boosted their target price on Fluor from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 6th. Barclays increased their price target on shares of Fluor from $39.00 to $45.00 and gave the company an "equal weight" rating in a research report on Thursday, July 18th. Citigroup upgraded shares of Fluor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $52.00 to $65.00 in a report on Tuesday. Finally, DA Davidson increased their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Fluor currently has an average rating of "Moderate Buy" and a consensus target price of $56.57.

Fluor Stock Performance

The stock has a market cap of $9.19 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 2.18 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The stock's 50 day simple moving average is $48.50 and its two-hundred day simple moving average is $45.20.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.68 by $0.17. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. During the same period in the previous year, the firm posted $0.76 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that Fluor Co. will post 2.88 EPS for the current year.

Insider Activity at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Fluor news, CAO John C. Regan sold 13,000 shares of the business's stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company's stock, valued at approximately $2,107,972.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Fluor by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company's stock valued at $668,278,000 after buying an additional 2,670,473 shares in the last quarter. CWM LLC raised its holdings in shares of Fluor by 127.4% in the 1st quarter. CWM LLC now owns 3,904 shares of the construction company's stock valued at $165,000 after purchasing an additional 2,187 shares during the period. Park Avenue Securities LLC acquired a new stake in Fluor in the 1st quarter valued at about $374,000. Evanson Asset Management LLC bought a new position in Fluor during the first quarter worth about $213,000. Finally, Hennessy Advisors Inc. increased its position in Fluor by 18.0% during the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company's stock worth $34,276,000 after buying an additional 123,500 shares during the last quarter. Institutional investors 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.