Fluor Sees Unusually High Options Volume (NYSE:FLR)

Fluor Corporation (NYSE:FLR) was the recipient of unusually large options trading on Wednesday. Investors bought 10,105 call options on the company. This represents an increase of 185% compared to the typical volume of 3,540 call options.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLR. Barclays boosted their price objective on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Weiss Ratings downgraded shares of Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Truist Financial reiterated a “buy” rating and set a $71.00 target price (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Citigroup boosted their target price on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.33.

Insider Activity at Fluor

In related news, insider Pierre Bechelany sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the sale, the insider directly owned 36,064 shares of the company’s stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Large investors have recently bought and sold shares of the stock. CX Institutional purchased a new position in shares of Fluor in the 3rd quarter worth approximately $98,000. Cim Investment Management Inc. increased its position in shares of Fluor by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 11,622 shares of the construction company’s stock valued at $609,000 after purchasing an additional 803 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Fluor by 49.8% during the second quarter. Engineers Gate Manager LP now owns 43,131 shares of the construction company’s stock worth $2,260,000 after buying an additional 14,331 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Fluor by 10.0% during the 2nd quarter. NewEdge Advisors LLC now owns 5,092 shares of the construction company’s stock valued at $267,000 after acquiring an additional 464 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Fluor in the second quarter valued at approximately $9,503,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Price Performance

FLR stock traded down $2.70 during midday trading on Wednesday, reaching $49.30. The company had a trading volume of 371,513 shares, compared to its average volume of 2,640,123. The stock has a 50 day moving average price of $52.69 and a 200-day moving average price of $50.26. Fluor has a 1-year low of $39.33 and a 1-year high of $58.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -4.01, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Equities research analysts expect that Fluor will post 2.69 earnings per share for the current year.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project-management company. It provides integrated services for complex capital projects, including design and engineering, procurement, construction, commissioning, operations and maintenance, and program management.

The company serves clients across the energy, chemicals, infrastructure, mining, advanced manufacturing, government and commercial sectors. Its work includes developing and maintaining industrial facilities, transportation and other infrastructure, government and defense projects, and energy-related assets.