Fluor (NYSE:FLR) Hits New 52-Week High – Here’s What Happened

Shares of Fluor Co. (NYSE:FLR) reached a new 52-week high during trading on Monday . The company traded as high as $55.86 and last traded at $55.11, with a volume of 241405 shares. The stock had previously closed at $55.00.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Fluor from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Robert W. Baird lifted their price target on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. UBS Group increased their price objective on Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Wednesday, July 17th. Finally, Barclays increased their target price on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.71.

Fluor Stock Down 2.1 %

The company has a market capitalization of $9.21 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average is $48.39 and its 200 day moving average is $45.09.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the business earned $0.76 EPS. Fluor’s revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Fluor Co. will post 2.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO John C. Regan sold 13,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Joseph L. Brennan sold 15,335 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the sale, the chief financial officer now owns 57,834 shares of the company’s stock, valued at $2,751,163.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluor

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Essex LLC purchased a new position in Fluor in the 3rd quarter worth approximately $215,000. Raymond James & Associates raised its holdings in Fluor by 9.4% during the third quarter. Raymond James & Associates now owns 96,025 shares of the construction company’s stock valued at $4,581,000 after acquiring an additional 8,232 shares during the period. Bleakley Financial Group LLC bought a new position in shares of Fluor in the third quarter worth about $204,000. Vontobel Holding Ltd. purchased a new stake in shares of Fluor during the third quarter worth about $418,000. Finally, Creative Planning raised its stake in Fluor by 35.5% during the 3rd quarter. Creative Planning now owns 42,001 shares of the construction company’s stock valued at $2,004,000 after purchasing an additional 11,014 shares during the period. 88.07% of the stock is currently owned by institutional investors.

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.