Fluor Corporation (NYSE:FLR) Sees Large Growth in Short Interest

Fluor Corporation (NYSE:FLR - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 11,270,000 shares, a growth of 22.9% from the May 15th total of 9,170,000 shares. Based on an average daily trading volume, of 3,090,000 shares, the short-interest ratio is presently 3.6 days. Approximately 6.8% of the shares of the stock are sold short.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Fluor during the fourth quarter valued at about $3,667,000. Cinctive Capital Management LP acquired a new stake in Fluor in the 4th quarter valued at approximately $1,131,000. LPL Financial LLC lifted its holdings in shares of Fluor by 19.3% during the fourth quarter. LPL Financial LLC now owns 118,652 shares of the construction company's stock worth $5,852,000 after buying an additional 19,161 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Fluor by 43.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after acquiring an additional 287 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Fluor during the fourth quarter worth $2,926,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLR has been the subject of a number of research analyst reports. Citigroup reduced their target price on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Truist Financial increased their price objective on Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays set a $40.00 target price on Fluor and gave the company an "equal weight" rating in a report on Thursday, February 27th. DA Davidson decreased their price target on shares of Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Finally, UBS Group cut their target price on shares of Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.43.

Fluor Stock Up 0.2%

FLR stock traded up $0.11 during trading hours on Thursday, hitting $49.99. The company's stock had a trading volume of 3,578,373 shares, compared to its average volume of 2,554,940. The stock has a 50 day moving average price of $39.18 and a two-hundred day moving average price of $42.80. Fluor has a 12 month low of $29.20 and a 12 month high of $60.10. The company has a market capitalization of $8.23 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the company posted $0.47 EPS. The firm's revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that Fluor will post 2.5 earnings per share for the current year.

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.

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