Fluor Co. (NYSE:FLR) Short Interest Up 5.6% in November

Fluor Co. (NYSE:FLR) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 6,600,000 shares, a growth of 5.6% from the October 31st total of 6,250,000 shares. Based on an average daily trading volume, of 2,130,000 shares, the days-to-cover ratio is currently 3.1 days.

Insider Transactions at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This represents a 25.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the transaction, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,261 shares of company stock worth $4,360,074. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluor

A number of large investors have recently modified their holdings of FLR. CIBC Asset Management Inc lifted its stake in Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after purchasing an additional 176 shares during the last quarter. Seelaus Asset Management LLC raised its stake in Fluor by 3.7% in the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after acquiring an additional 230 shares during the period. ClariVest Asset Management LLC lifted its holdings in Fluor by 0.3% during the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock valued at $3,379,000 after purchasing an additional 233 shares during the last quarter. Xponance Inc. increased its holdings in shares of Fluor by 1.2% in the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after purchasing an additional 265 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Fluor by 4.9% in the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after purchasing an additional 277 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Stock Up 2.9 %

NYSE FLR traded up $1.58 on Wednesday, reaching $56.28. The company had a trading volume of 1,780,296 shares, compared to its average volume of 1,712,916. The company’s fifty day moving average is $52.30 and its 200-day moving average is $48.17. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 4.31 and a beta of 1.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor has a 1-year low of $35.04 and a 1-year high of $60.10.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. On average, research analysts forecast that Fluor will post 2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on FLR shares. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. KeyCorp lifted their target price on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial lifted their price objective on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, DA Davidson increased their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Fluor presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

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.