Fluor Co. (NEW) (NYSE:FLR) Sees Significant Drop in Short Interest
Fluor Co. (NEW) (NYSE:FLR) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 6,893,600 shares, a decrease of 11.4% from the June 15th total of 7,782,000 shares. Based on an average daily trading volume, of 2,770,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 5.0% of the shares of the stock are sold short.
FLR stock traded up $0.08 during midday trading on Friday, reaching $32.95. The company’s stock had a trading volume of 1,125,158 shares, compared to its average volume of 1,121,149. Fluor Co. has a 52 week low of $27.69 and a 52 week high of $60.60. The stock has a market capitalization of $4.61 billion, a PE ratio of 15.33, a PEG ratio of 1.55 and a beta of 2.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.49. The stock’s 50-day moving average price is $31.67.
Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.68). Fluor Co. (NEW) had a net margin of 0.99% and a return on equity of 8.90%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the business posted $0.56 earnings per share. Fluor Co. (NEW)’s revenue was down 13.1% compared to the same quarter last year. Analysts predict that Fluor Co. will post 1.63 earnings per share for the current year.
In other news, CEO Carlos M. Hernandez acquired 17,001 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $29.52 per share, with a total value of $501,869.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan L. Boeckmann acquired 16,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $29.81 per share, for a total transaction of $476,960.00. Following the completion of the purchase, the insider now directly owns 17,250 shares of the company’s stock, valued at approximately $514,222.50. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Benin Management CORP bought a new position in Fluor Co. (NEW) in the first quarter valued at approximately $202,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Fluor Co. (NEW) in the first quarter valued at approximately $423,000. World Asset Management Inc boosted its stake in Fluor Co. (NEW) by 88.0% in the first quarter. World Asset Management Inc now owns 14,300 shares of the construction company’s stock valued at $526,000 after acquiring an additional 6,692 shares during the last quarter. Advisor Partners LLC acquired a new stake in Fluor Co. (NEW) in the first quarter worth $251,000. Finally, Capital Investment Counsel Inc raised its holdings in Fluor Co. (NEW) by 6.6% in the first quarter. Capital Investment Counsel Inc now owns 10,135 shares of the construction company’s stock worth $373,000 after purchasing an additional 625 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the stock. DA Davidson decreased their price objective on shares of Sally Beauty to $16.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. MKM Partners set a $39.00 price target on shares of Fluor Co. (NEW) and gave the company a “hold” rating in a research note on Friday, April 5th. Citigroup set a $47.00 price target on shares of Quanta Services and gave the company a “buy” rating in a research note on Friday, May 3rd. ValuEngine raised shares of WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Finally, Canaccord Genuity reissued a “buy” rating and set a GBX 620 ($8.10) price target on shares of in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Fluor Co. (NEW) currently has a consensus rating of “Hold” and an average price target of $44.73.
About Fluor Co. (NEW)
Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, operation, maintenance and asset integrity, and project management services worldwide. It operates through four segments: Energy & Chemicals; Mining, Industrial, Infrastructure & Power; Diversified Services; and Government.
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