Short Interest in Fluor Corporation (NYSE:FLR) Declines By 17.5%

Fluor Corporation (NYSE:FLR) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 7,489,595 shares, a drop of 17.5% from the February 12th total of 9,080,184 shares. Based on an average trading volume of 3,877,443 shares, the days-to-cover ratio is currently 1.9 days. Currently, 5.2% of the company’s stock are sold short. Currently, 5.2% of the company’s stock are sold short. Based on an average trading volume of 3,877,443 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

Several research analysts recently commented on FLR shares. DA Davidson boosted their price target on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Citigroup upped their target price on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Robert W. Baird raised their price target on shares of Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.33.

Fluor Stock Performance

NYSE:FLR traded up $0.44 during trading hours on Wednesday, reaching $45.10. 193,319 shares of the stock were exchanged, compared to its average volume of 2,772,726. The stock has a market capitalization of $6.45 billion, a P/E ratio of -57.69, a P/E/G ratio of 1.09 and a beta of 1.35. The firm has a 50 day simple moving average of $46.71 and a 200-day simple moving average of $44.68. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.33. Fluor has a 52 week low of $29.20 and a 52 week high of $57.50.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the firm posted $0.48 earnings per share. Fluor’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Fluor will post 2.5 earnings per share for the current fiscal year.

Insider Activity at Fluor

In related news, insider Kevin B. Hammonds sold 2,988 shares of Fluor stock in a transaction on Friday, February 20th. The shares were sold at an average price of $52.61, for a total transaction of $157,198.68. Following the sale, the insider owned 16,273 shares of the company’s stock, valued at $856,122.53. The trade was a 15.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the transaction, the insider directly owned 194,514 shares of the company’s stock, valued at approximately $10,184,753.04. The trade was a 2.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 22,110 shares of company stock valued at $1,168,920. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MTM Investment Management LLC acquired a new position in shares of Fluor during the second quarter worth approximately $26,000. Global Retirement Partners LLC raised its stake in Fluor by 91.7% during the 4th quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after acquiring an additional 311 shares in the last quarter. Assetmark Inc. boosted its position in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after acquiring an additional 483 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Fluor during the fourth quarter valued at $27,000. Finally, CoreCap Advisors LLC raised its stake in shares of Fluor by 129.5% during the third quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock valued at $30,000 after purchasing an additional 408 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.