Fluor Target of Unusually Large Options Trading (NYSE:FLR)

Fluor Co. (NYSE:FLR) saw some unusual options trading on Wednesday. Traders acquired 7,949 call options on the stock. This is an increase of approximately 43% compared to the average volume of 5,548 call options.

Insider Buying and Selling at Fluor

In other news, Chairman David E. Constable sold 40,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the completion of the transaction, the chairman now directly owns 870,627 shares of the company’s stock, valued at $42,660,723. This trade represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alvin C. Collins III sold 18,920 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the transaction, the insider now directly owns 64,383 shares of the company’s stock, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

A number of hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc raised its stake in shares of Fluor by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock valued at $256,000 after acquiring an additional 264 shares during the period. Smartleaf Asset Management LLC lifted its position in Fluor by 43.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after acquiring an additional 287 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Fluor by 0.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,954 shares of the construction company’s stock worth $1,724,000 after acquiring an additional 300 shares in the last quarter. Xponance Inc. lifted its position in Fluor by 1.5% during the 1st quarter. Xponance Inc. now owns 24,597 shares of the construction company’s stock worth $881,000 after acquiring an additional 357 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Fluor by 3.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,167 shares of the construction company’s stock worth $400,000 after acquiring an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of NYSE:FLR opened at $48.43 on Friday. The firm has a market capitalization of $7.97 billion, a PE ratio of 3.97, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The business has a 50-day moving average of $37.82 and a two-hundred day moving average of $42.96. Fluor has a 12 month low of $29.20 and a 12 month high of $60.10.

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

Analysts Set New Price Targets

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

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.