Fluor (NYSE:FLR) Shares Down 7.8% on Insider Selling

Fluor Corporation (NYSE:FLR) shares fell 7.8% on Monday following insider selling activity. The company traded as low as $52.88 and last traded at $52.5770. 2,485,846 shares were traded during trading, a decline of 8% from the average daily volume of 2,713,595 shares. The stock had previously closed at $57.00.

Specifically, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares of the company’s stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research downgraded Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research note on Friday. UBS Group lifted their price objective on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday. Citigroup boosted their price objective on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays raised their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.33.

Fluor Price Performance

The firm has a 50-day moving average of $50.97 and a 200-day moving average of $48.66. The stock has a market cap of $7.36 billion, a PE ratio of -4.29, a PEG ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.78.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the firm earned $0.43 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Fluor Corporation will post 2.63 EPS for the current year.

Hedge Funds Weigh In On Fluor

Institutional investors have recently bought and sold shares of the stock. Ieq Capital LLC purchased a new stake in Fluor in the 2nd quarter worth $6,752,000. Callan Family Office LLC purchased a new position in shares of Fluor during the second quarter valued at about $570,000. OneAscent Financial Services LLC bought a new stake in shares of Fluor in the second quarter worth about $1,340,000. Allworth Financial LP purchased a new stake in shares of Fluor in the second quarter worth about $458,000. Finally, Advisors Capital Management LLC bought a new position in Fluor during the second quarter valued at approximately $352,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.