Fluor Co. (NYSE:FLR – Get Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 9,270,000 shares, an increase of 33.6% from the December 31st total of 6,940,000 shares. Based on an average daily trading volume, of 2,300,000 shares, the short-interest ratio is presently 4.0 days.
Wall Street Analysts Forecast Growth
FLR has been the subject of several recent analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $58.00 price objective (up from $54.00) on shares of Fluor in a report on Wednesday, December 18th. Citigroup decreased their price objective on shares of Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, KeyCorp increased their price objective on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.29.
Read Our Latest Report on Fluor
Fluor Price Performance
Fluor (NYSE:FLR – Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. On average, analysts forecast that Fluor will post 2.62 EPS for the current fiscal year.
Insider Activity at Fluor
In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark E. Fields sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Institutional Investors Weigh In On Fluor
Several hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in shares of Fluor by 779.1% during the 4th quarter. Global Retirement Partners LLC now owns 2,233 shares of the construction company’s stock valued at $110,000 after buying an additional 1,979 shares during the period. Convergence Investment Partners LLC acquired a new stake in shares of Fluor during the 4th quarter valued at $203,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Fluor in the fourth quarter valued at about $285,000. Venturi Wealth Management LLC raised its stake in shares of Fluor by 826.2% during the 4th quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock worth $77,000 after purchasing an additional 1,388 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Fluor by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after purchasing an additional 264 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Fluor Company Profile
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.
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