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

Fluor Co. (NYSE:FLR) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 6,600,000 shares, an increase of 5.6% from the October 31st total of 6,250,000 shares. Based on an average daily volume of 2,130,000 shares, the days-to-cover ratio is presently 3.1 days.

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on 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 transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,261 shares of company stock valued at $4,360,074 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluor

A number of hedge funds have recently bought and sold shares of the company. ORG Partners LLC bought a new position in Fluor in the second quarter worth about $34,000. GAMMA Investing LLC lifted its holdings in Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after acquiring an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Fluor in the second quarter worth about $51,000. Finally, Quest Partners LLC bought a new stake in shares of Fluor during the second quarter valued at approximately $52,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Up 2.5 %

NYSE:FLR opened at $56.07 on Thursday. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 4.31 and a beta of 1.89. Fluor has a one year low of $35.04 and a one year high of $60.10. The stock has a 50-day simple moving average of $52.30 and a 200 day simple moving average of $48.17. 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 (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.02 earnings per share. Sell-side analysts predict that Fluor will post 2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. KeyCorp increased their target price on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson increased their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, UBS Group raised their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Fluor has a consensus rating of “Moderate Buy” and a consensus price target of $60.29.

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.