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

Fluor Corporation (NYSE:FLR) shares fell 7.8% on Monday following insider selling activity. The stock traded as low as $52.88 and last traded at $52.5770. Approximately 2,485,846 shares traded hands during trading, a decline of 8% from the average session 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 that occurred 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 transaction, the insider directly owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a report on Friday. Barclays boosted their price target on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday. Zacks Research lowered shares of Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Citigroup lifted their target price on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.33.

Fluor Trading Down 0.7%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.78 and a current ratio of 1.80. The company’s 50 day moving average is $50.97 and its 200 day moving average is $48.66. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of -4.31, a PEG ratio of 1.66 and a beta of 1.25.

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

Institutional Trading of Fluor

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Fluor during the second quarter worth $25,000. Assetmark Inc. lifted its holdings in shares of Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after acquiring an additional 483 shares during the period. Los Angeles Capital Management LLC bought a new stake in Fluor in the fourth quarter valued at about $27,000. Larson Financial Group LLC raised its position in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares in the last quarter. Finally, Banque Transatlantique SA boosted its holdings in Fluor by 312.5% during the second quarter. Banque Transatlantique SA now owns 825 shares of the construction company’s stock valued at $43,000 after purchasing an additional 625 shares in the last quarter. 88.07% of the stock is currently 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.