Fluor Co. (NYSE:FLR) Sees Large Growth in Short Interest

Fluor Co. (NYSE:FLR) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 9,270,000 shares, an increase of 33.6% from the December 15th 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.

Fluor Price Performance

Shares of FLR stock opened at $50.28 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The firm has a market cap of $8.62 billion, a P/E ratio of 33.52, a P/E/G ratio of 3.39 and a beta of 1.91. The business’s 50 day moving average price is $52.13 and its 200-day moving average price is $49.95.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Fluor will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 value of $2,831,500.00. Following the completion of the transaction, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’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 transaction, the insider now directly owns 137,974 shares in the company, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in shares of Fluor by 2,509.5% in the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after acquiring an additional 527 shares in the last quarter. Quest Partners LLC bought a new position in Fluor in the second quarter worth $52,000. Quarry LP lifted its position in Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock valued at $63,000 after buying an additional 942 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Fluor during the 3rd quarter valued at $96,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Fluor in the 3rd quarter worth about $96,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Truist Financial lowered their price target on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp lifted their price objective on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, DA Davidson lifted their price target on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.14.

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.