Fluor (NYSE:FLR) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Fluor's share price crossed above its 200-day moving average of $45.37, trading as high as $49.74 and last at about $49.56 on volume of ~1.44 million shares.
• Analysts hold a consensus Moderate Buy rating with a consensus target price of $54.33, reflecting mixed individual targets roughly in the $48–$59 range (1 Strong Buy, 4 Buy, 2 Hold, 1 Sell).
• The company recently missed quarterly estimates (EPS $0.33 vs. $0.34; revenue $4.18B vs. $4.27B), reported a negative net margin (-0.34%), and insiders have sold shares (22,110 shares over the last three months).

Fluor Corporation (NYSE:FLR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.37 and traded as high as $49.74. Fluor shares last traded at $49.5560, with a volume of 1,436,225 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLR. UBS Group reiterated a "buy" rating and issued a $57.00 price objective on shares of Fluor in a report on Thursday, February 19th. Robert W. Baird boosted their price target on Fluor from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Weiss Ratings downgraded Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research note on Tuesday, February 17th. Truist Financial increased their price objective on Fluor from $56.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Finally, Wall Street Zen upgraded 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 issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.33.

Fluor Stock Up 0.7%

The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of -63.53, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. The business's 50 day moving average is $47.56 and its 200-day moving average is $45.37.

Fluor (NYSE:FLR - Get Free Report) last released its 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). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The firm's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts anticipate that Fluor Corporation will post 2.5 EPS for the current fiscal year.

Insider Transactions at Fluor

In other Fluor news, insider Mark E. Fields sold 5,178 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total value of $271,120.08. Following the sale, the insider owned 194,514 shares of the company's stock, valued at $10,184,753.04. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kevin B. Hammonds sold 2,988 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $52.61, for a total value of $157,198.68. Following the completion of the sale, the insider directly owned 16,273 shares of the company's stock, valued at $856,122.53. This represents a 15.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,110 shares of company stock worth $1,168,920. Insiders own 1.70% of the company's stock.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in Fluor by 6.6% during the third quarter. Farther Finance Advisors LLC now owns 3,591 shares of the construction company's stock worth $151,000 after buying an additional 223 shares in the last quarter. 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 valued at $348,000 after acquiring an additional 245 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock worth $194,000 after acquiring an additional 248 shares during the period. Brighton Jones LLC grew its holdings in shares of Fluor by 3.1% during the 3rd quarter. Brighton Jones LLC now owns 9,060 shares of the construction company's stock worth $381,000 after purchasing an additional 273 shares in the last quarter. Finally, Clearstead Advisors LLC increased its position in shares of Fluor by 20.9% during the third quarter. Clearstead Advisors LLC now owns 1,594 shares of the construction company's stock valued at $67,000 after purchasing an additional 276 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Company Profile

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.

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