Insider Selling: Fluor (NYSE:FLR) Insider Sells $276,200.00 in Stock

Fluor Corporation (NYSE:FLR) insider Pierre Edward Bechelany sold 5,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the sale, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Fluor Price Performance

Shares of NYSE FLR opened at $51.93 on Thursday. The company has a market cap of $6.95 billion, a PE ratio of -4.23, a P/E/G ratio of 1.66 and a beta of 1.25. 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 business has a 50-day simple moving average of $51.01 and a two-hundred day simple moving average of $48.70. Fluor Corporation has a fifty-two week low of $39.33 and a fifty-two week high of $57.93.

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 the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. Fluor’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that Fluor Corporation will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluor

Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Fluor in the second quarter valued at approximately $494,000. Quantbot Technologies LP acquired a new position in shares of Fluor during the 2nd quarter worth $1,398,000. Evolve Private Wealth LLC purchased a new stake in shares of Fluor during the 2nd quarter worth approximately $555,000. Ieq Capital LLC acquired a new stake in Fluor in the second quarter valued at $6,752,000. Finally, Callan Family Office LLC purchased a new position in Fluor during the 2nd quarter valued at about $570,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FLR shares. Citigroup upped their price target on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Barclays upped their price objective on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday. UBS Group raised their target price on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial restated a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday. Finally, Zacks Research cut shares of Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.33.

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.