Fluor (NYSE:FLR) Stock Price Up 5.6% - Here's What Happened

Fluor Co. (NYSE:FLR - Get Free Report)'s stock price shot up 5.6% on Friday . The company traded as high as $40.06 and last traded at $39.69. 1,362,036 shares were traded during trading, a decline of 41% from the average session volume of 2,296,224 shares. The stock had previously closed at $37.58.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. DA Davidson lowered their price objective on shares of Fluor from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Truist Financial upped their target price on shares of Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays set a $40.00 target price on shares of Fluor and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Wall Street Zen lowered shares of Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, UBS Group lowered their price objective on Fluor from $49.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Fluor has a consensus rating of "Moderate Buy" and a consensus target price of $45.43.

Fluor Trading Down 2.6%

The firm has a 50-day moving average price of $35.87 and a 200-day moving average price of $43.59. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $6.98 billion, a PE ratio of 3.48, a price-to-earnings-growth ratio of 1.36 and a beta of 1.24.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLR. Hurley Capital LLC purchased a new position in shares of Fluor in the first quarter valued at $29,000. Sterling Capital Management LLC grew its position in shares of Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after purchasing an additional 408 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Fluor by 800.0% during the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company's stock valued at $32,000 after buying an additional 800 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Fluor during the 4th quarter valued at about $33,000. Finally, SBI Securities Co. Ltd. grew its holdings in Fluor by 222.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company's stock valued at $39,000 after buying an additional 760 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.