Stock Traders Purchase Large Volume of Fluor Call Options (NYSE:FLR)

Fluor Co. (NYSE:FLR) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 4,054 call options on the company. This is an increase of approximately 52% compared to the average daily volume of 2,671 call options.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLR. DA Davidson upped their price objective on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial upped their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their price objective 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. Citigroup upped their price objective on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Robert W. Baird upped their target price on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.71.

Fluor Trading Up 8.2 %

NYSE FLR opened at $54.60 on Thursday. The firm’s 50-day moving average is $48.16 and its two-hundred day moving average is $44.91. Fluor has a 12 month low of $32.31 and a 12 month high of $55.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $9.35 billion, a P/E ratio of 31.74, a PEG ratio of 2.18 and a beta of 1.91.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.68 by $0.17. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluor will post 2.88 earnings per share for the current year.

Insider Transactions at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. 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 through this hyperlink. In related news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,261 shares of company stock valued at $2,156,604 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bleakley Financial Group LLC purchased a new position in shares of Fluor in the third quarter valued at approximately $204,000. Vontobel Holding Ltd. purchased a new position in shares of Fluor in the third quarter valued at approximately $418,000. Creative Planning boosted its stake in shares of Fluor by 35.5% in the third 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. Exchange Traded Concepts LLC lifted its stake in Fluor by 56.4% in the third quarter. Exchange Traded Concepts LLC now owns 11,133 shares of the construction company’s stock worth $531,000 after acquiring an additional 4,015 shares during the last quarter. Finally, Westend Capital Management LLC lifted its stake in Fluor by 0.6% in the third quarter. Westend Capital Management LLC now owns 251,699 shares of the construction company’s stock worth $12,009,000 after acquiring an additional 1,602 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.