Fluor Sees Unusually Large Options Volume (NYSE:FLR)

Fluor Co. (NYSE:FLR) saw some unusual options trading on Friday. Investors acquired 14,595 call options on the company. This is an increase of approximately 202% compared to the typical daily volume of 4,838 call options.

Fluor Trading Up 9.4%

Fluor stock opened at $41.10 on Friday. The company has a 50 day moving average price of $35.70 and a 200 day moving average price of $43.86. Fluor has a 52 week low of $29.20 and a 52 week high of $60.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 3.37, a P/E/G ratio of 1.36 and a beta of 1.24.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.27 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. Research analysts forecast that Fluor will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

FLR has been the subject of several research reports. KeyCorp cut their price objective on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. DA Davidson dropped their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Barclays set a $40.00 price target on shares of Fluor and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Truist Financial upped their price objective on shares of Fluor from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Robert W. Baird set a $41.00 price objective on shares of Fluor in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.43.

Institutional Investors Weigh In On Fluor

A number of institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC bought a new position in shares of Fluor in the fourth quarter valued at approximately $484,000. Quantbot Technologies LP bought a new position in Fluor in the 4th quarter worth approximately $3,667,000. Exchange Traded Concepts LLC grew its holdings in Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock worth $2,151,000 after acquiring an additional 32,472 shares during the period. Cinctive Capital Management LP acquired a new stake in Fluor during the 4th quarter worth $1,131,000. Finally, LPL Financial LLC grew its holdings in Fluor by 19.3% during the 4th quarter. LPL Financial LLC now owns 118,652 shares of the construction company’s stock worth $5,852,000 after acquiring an additional 19,161 shares during the period. 88.07% of the stock is owned by institutional investors and hedge funds.

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.