Fluor Corporation (NYSE:FLR) Short Interest Down 17.5% in February

Fluor Corporation (NYSE:FLR) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 7,489,595 shares, a decline of 17.5% from the February 12th total of 9,080,184 shares. Based on an average daily volume of 3,877,443 shares, the short-interest ratio is presently 1.9 days. Approximately 5.2% of the company’s stock are sold short. Approximately 5.2% of the company’s stock are sold short. Based on an average daily volume of 3,877,443 shares, the short-interest ratio is presently 1.9 days.

Fluor Stock Up 1.9%

Fluor stock traded up $0.83 during trading on Monday, hitting $43.85. 1,778,825 shares of the company were exchanged, compared to its average volume of 3,017,748. The company has a market capitalization of $6.27 billion, a P/E ratio of -56.21, a PEG ratio of 1.07 and a beta of 1.35. The business’s 50 day moving average is $46.72 and its 200 day moving average is $44.66. Fluor has a 52 week low of $29.20 and a 52 week high of $57.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the business posted $0.48 earnings per share. Fluor’s revenue was down 2.0% on a year-over-year basis. Analysts predict that Fluor will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Zacks Research raised Fluor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Weiss Ratings lowered shares of Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Citigroup raised their price objective on shares of Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Truist Financial lifted their price objective on shares of Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, UBS Group reissued a “buy” rating and set a $57.00 target price on shares of Fluor in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fluor has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Insider Activity

In other news, insider Michael E. Alexander sold 3,387 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.07, for a total transaction of $179,748.09. Following the transaction, the insider owned 68,664 shares of the company’s stock, valued at $3,643,998.48. This represents a 4.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Morgan sold 3,387 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.09, for a total value of $179,815.83. Following the completion of the sale, the insider directly owned 45,999 shares of the company’s stock, valued at $2,442,086.91. The trade was a 6.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,110 shares of company stock valued at $1,168,920. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Institutional investors have recently added to or reduced their stakes in the company. DLD Asset Management LP purchased a new stake in Fluor in the 2nd quarter valued at about $1,025,400,000. Starboard Value LP bought a new position in shares of Fluor in the fourth quarter valued at approximately $205,732,000. Rubric Capital Management LP purchased a new stake in shares of Fluor during the second quarter valued at approximately $205,080,000. AQR Capital Management LLC lifted its holdings in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after acquiring an additional 3,203,712 shares during the period. Finally, Sourcerock Group LLC bought a new stake in Fluor during the second quarter worth $85,327,000. 88.07% of the stock is owned by institutional investors.

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.