Fluor (NYSE:FLR) Shares Pass Above 200 Day Moving Average – Time to Sell?

Fluor Corporation (NYSE:FLR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $47.65 and traded as high as $50.59. Fluor shares last traded at $49.4530, with a volume of 1,274,431 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Robert W. Baird raised their price objective on shares of Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Zacks Research downgraded shares of Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Citigroup cut their target price on shares of Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Truist Financial raised their price target on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.20.

Fluor Price Performance

The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $49.00 and its 200 day simple moving average is $47.66. The firm has a market capitalization of $6.87 billion, a P/E ratio of 28.59, a PEG ratio of 1.57 and a beta of 1.23.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts forecast that Fluor Corporation will post 2.63 earnings per share for the current year.

Institutional Trading of Fluor

Several hedge funds have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Fluor during the second quarter valued at about $210,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Fluor by 47.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 13,263 shares of the construction company’s stock worth $695,000 after buying an additional 4,251 shares during the period. Gradient Investments LLC lifted its stake in shares of Fluor by 10.0% in the 2nd quarter. Gradient Investments LLC now owns 61,716 shares of the construction company’s stock valued at $3,233,000 after acquiring an additional 5,626 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Fluor by 175.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,581 shares of the construction company’s stock valued at $83,000 after acquiring an additional 1,008 shares during the period. Finally, Empowered Funds LLC grew its position in Fluor by 45.2% during the 1st quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock worth $6,454,000 after acquiring an additional 43,078 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.