Traders Buy Large Volume of Call Options on Fluor (NYSE:FLR)

Fluor Co. (NYSE:FLR) saw unusually large options trading activity on Thursday. Stock investors purchased 10,734 call options on the stock. This represents an increase of 152% compared to the typical volume of 4,256 call options.

Insider Buying and Selling

In related news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was 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 directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,312 shares of company stock worth $4,049,707 in the last three months. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

A number of large investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new position in shares of Fluor during the 2nd quarter worth $47,559,000. Westfield Capital Management Co. LP purchased a new position in Fluor during the 3rd quarter valued at about $39,289,000. Rubric Capital Management LP raised its holdings in shares of Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Fluor by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after purchasing an additional 323,111 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Trading Down 0.2 %

Shares of NYSE:FLR traded down $0.08 during trading on Thursday, reaching $49.24. The company’s stock had a trading volume of 286,422 shares, compared to its average volume of 1,722,960. The firm’s 50 day simple moving average is $53.15 and its two-hundred day simple moving average is $49.55. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10. The stock has a market capitalization of $8.45 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on FLR. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp increased their price target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. DA Davidson upped their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on Fluor from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.86.

Fluor Company Profile

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.