Fluor (NYSE:FLR) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Fluor Corporation (NYSE:FLR) shares 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FLR shares. Weiss Ratings cut shares of Fluor from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Truist Financial increased their price target on shares of Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Zacks Research raised shares of Fluor from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Robert W. Baird lifted their price objective on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Fluor has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Fluor Stock Down 1.4%

The firm has a fifty day simple moving average of $47.62 and a 200 day simple moving average of $45.42. 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 company has a market cap of $6.95 billion, a PE ratio of -62.30, a PEG ratio of 1.23 and a beta of 1.30.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company 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 business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. Equities research analysts predict that Fluor Corporation will post 2.5 EPS for the current year.

Insiders Place Their Bets

In related news, insider Pierre Edward Bechelany sold 4,581 shares of Fluor stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $53.10, for a total value of $243,251.10. Following the transaction, the insider owned 32,748 shares in the company, valued at approximately $1,738,918.80. This trade represents a 12.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael E. Alexander 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 $53.07, for a total value of $179,748.09. Following the sale, the insider directly owned 68,664 shares of the company’s stock, valued at approximately $3,643,998.48. This trade represents a 4.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 22,110 shares of company stock worth $1,168,920. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLR. NewEdge Advisors LLC raised its stake in shares of Fluor by 40.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after acquiring an additional 2,896 shares during the period. Jones Financial Companies Lllp boosted its position in Fluor by 337.7% during the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock worth $587,000 after purchasing an additional 12,645 shares during the period. Caxton Associates LLP purchased a new stake in Fluor during the 1st quarter worth $266,000. Acadian Asset Management LLC acquired a new stake in Fluor in the 1st quarter valued at $54,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after purchasing an additional 248 shares during the period. 88.07% of the stock is 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.