Fluor (NYSE:FLR) Hits New 12-Month High – Here’s Why

Fluor Corporation (NYSE:FLR) reached a new 52-week high on Thursday . The company traded as high as $57.99 and last traded at $58.1770, with a volume of 859289 shares trading hands. The stock had previously closed at $56.60.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FLR shares. Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Citigroup boosted their target price on Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wall Street Zen raised Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. UBS Group increased their price target on shares of Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fluor has a consensus rating of “Hold” and an average target price of $63.33.

Fluor Trading Down 2.3%

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. The firm’s 50 day moving average price is $51.84 and its 200 day moving average price is $49.56. The stock has a market capitalization of $7.51 billion, a P/E ratio of -4.57, a P/E/G ratio of 1.80 and a beta of 1.26.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.Fluor’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. As a group, equities research analysts expect that Fluor Corporation will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, insider Pierre Bechelany sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider directly owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Several large investors have recently added to or reduced their stakes in the stock. Seelaus Asset Management LLC raised its holdings in Fluor by 2.9% in the 4th quarter. Seelaus Asset Management LLC now owns 8,790 shares of the construction company’s stock worth $348,000 after purchasing an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after purchasing an additional 248 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock valued at $26,000 after buying an additional 311 shares during the period. HB Wealth Management LLC increased its position in shares of Fluor by 7.2% during the second quarter. HB Wealth Management LLC now owns 5,191 shares of the construction company’s stock valued at $272,000 after buying an additional 348 shares during the period. Finally, Parallel Advisors LLC raised its stake in Fluor by 16.4% in the first quarter. Parallel Advisors LLC now owns 2,667 shares of the construction company’s stock worth $124,000 after buying an additional 375 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

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.