Traders Purchase High Volume of Call Options on Fluor (NYSE:FLR)

Fluor Co. (NYSE:FLR) saw some unusual options trading activity on Wednesday. Investors purchased 7,949 call options on the stock. This is an increase of approximately 43% compared to the average volume of 5,548 call options.

Analyst Ratings Changes

FLR has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Fluor from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. DA Davidson reduced their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird set a $41.00 price objective on shares of Fluor in a research note on Monday, May 5th. Truist Financial increased their price target on shares of Fluor from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Barclays set a $40.00 price target on shares of Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and an average price target of $45.43.

Fluor Stock Performance

NYSE:FLR opened at $49.92 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The company has a market cap of $8.22 billion, a P/E ratio of 4.10, a P/E/G ratio of 1.36 and a beta of 1.30. Fluor has a fifty-two week low of $29.20 and a fifty-two week high of $60.10. The firm’s 50 day moving average is $37.48 and its two-hundred day moving average is $43.02.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. Fluor had a net margin of 13.14% and a return on equity of 15.14%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the firm posted $0.47 earnings per share. Fluor’s revenue was up 6.6% on a year-over-year basis. Analysts expect that Fluor will post 2.5 EPS for the current year.

Insider Buying and Selling at Fluor

In related news, insider Alvin C. Collins III sold 18,920 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction of $859,535.60. Following the transaction, the insider now owns 64,383 shares of the company’s stock, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of hedge funds have recently made changes to their positions in FLR. Golden State Wealth Management LLC purchased a new position in shares of Fluor in the 4th quarter valued at $33,000. Kestra Private Wealth Services LLC raised its stake in shares of Fluor by 140.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 13,250 shares of the construction company’s stock valued at $653,000 after acquiring an additional 7,743 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Fluor by 28.8% in the 4th quarter. Vontobel Holding Ltd. now owns 11,284 shares of the construction company’s stock valued at $557,000 after acquiring an additional 2,524 shares during the period. Rhumbline Advisers raised its stake in shares of Fluor by 1.7% in the 4th quarter. Rhumbline Advisers now owns 547,402 shares of the construction company’s stock valued at $26,998,000 after acquiring an additional 9,338 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Fluor in the 4th quarter valued at $2,417,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.