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

Fluor Co. (NYSE:FLR) was the recipient of unusually large options trading activity on Thursday. Traders acquired 10,734 call options on the company. This is an increase of approximately 152% compared to the average volume of 4,256 call options.

Insiders Place Their Bets

In related news, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the transaction, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. The trade was a 5.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,312 shares of company stock valued at $4,049,707. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluor

Several institutional investors and hedge funds have recently bought and sold shares of the business. Aequim Alternative Investments LP boosted its stake in shares of Fluor by 6.0% during the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after purchasing an additional 41,800 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Fluor by 139.1% in the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after buying an additional 9,992 shares during the period. AQR Capital Management LLC boosted its position in Fluor by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after acquiring an additional 222,070 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Fluor by 27.9% during 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 acquiring an additional 457,220 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Fluor by 67.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after acquiring an additional 19,836 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

FLR stock traded down $0.08 during mid-day trading on Thursday, hitting $49.24. 286,422 shares of the stock were exchanged, compared to its average volume of 1,722,960. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 4.36 and a beta of 1.89. The business has a fifty day moving average price of $53.15 and a 200 day moving average price of $49.55. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10.

Fluor (NYSE:FLR) last issued its earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Fluor’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. On average, sell-side analysts anticipate that Fluor will post 2.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLR. KeyCorp upped their price objective on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Truist Financial upped their price objective on Fluor from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.