Insider Selling: Fluor (NYSE:FLR) Insider Sells $276,200.00 in Stock

Fluor Corporation (NYSE:FLR) insider Pierre Edward Bechelany sold 5,000 shares of Fluor stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Fluor Trading Down 7.9%

FLR stock traded down $4.53 during trading on Monday, hitting $52.47. 4,564,331 shares of the company traded hands, compared to its average volume of 2,728,638. The company has a 50-day moving average of $50.78 and a 200-day moving average of $48.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.78 and a current ratio of 1.80. Fluor Corporation has a 1 year low of $39.33 and a 1 year high of $57.93. The firm has a market capitalization of $7.33 billion, a PE ratio of -4.27, a P/E/G ratio of 1.81 and a beta of 1.25.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. Analysts predict that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Fluor in the second quarter worth $25,000. Assetmark Inc. boosted its holdings in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after buying an additional 483 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Fluor in the 4th quarter worth about $27,000. Larson Financial Group LLC increased its stake in shares of Fluor by 6,116.7% in the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Fluor during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Analyst Ratings Changes

FLR has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research lowered Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a report on Friday. Robert W. Baird boosted their target price on Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $71.00 price target (up from $64.00) on shares of Fluor in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.33.

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.