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

Fluor Co. (NYSE:FLR) saw some unusual options trading activity on Thursday. Investors bought 10,734 call options on the stock. This represents an increase of 152% compared to the typical daily volume of 4,256 call options.

Fluor Trading Up 3.5 %

NYSE:FLR opened at $51.00 on Friday. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a fifty day moving average price of $53.06 and a two-hundred day moving average price of $49.59. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 4.36 and a beta of 1.89.

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

Wall Street Analysts Forecast Growth

FLR has been the topic of several research reports. Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial raised their price target on Fluor from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group upped their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, DA Davidson increased their price target on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.86.

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. The trade was a 21.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,300 shares of company stock worth $3,849,067 over the last three months. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc grew its holdings in Fluor by 3.7% in the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after purchasing an additional 176 shares during the last quarter. GAMMA Investing LLC grew its stake in Fluor by 10.3% in the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock valued at $112,000 after acquiring an additional 213 shares during the last quarter. Seelaus Asset Management LLC increased its holdings in Fluor by 3.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after acquiring an additional 230 shares in the last quarter. ClariVest Asset Management LLC raised its position in Fluor by 0.3% during the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after acquiring an additional 233 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Fluor by 1.2% in the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after purchasing an additional 265 shares in the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.