Fluor (NYSE:FLR) Stock Passes Above 200 Day Moving Average – Time to Sell?

Fluor Corporation (NYSE:FLR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.25 and traded as high as $51.84. Fluor shares last traded at $50.6360, with a volume of 1,976,218 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLR. Truist Financial reiterated a “buy” rating and set a $57.00 price target (down from $59.00) on shares of Fluor in a research report on Monday, May 11th. Robert W. Baird increased their price target on shares of Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Zacks Research cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 20th. UBS Group reissued a “buy” rating and set a $57.00 price objective on shares of Fluor in a research note on Thursday, February 19th. Finally, DA Davidson increased their price objective on Fluor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fluor has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Fluor Stock Performance

The stock has a market cap of $7.07 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.56 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50 day moving average price of $48.01 and a two-hundred day moving average price of $46.25.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $0.73 EPS. As a group, equities research analysts forecast that Fluor Corporation will post 2.69 EPS for the current fiscal year.

Institutional Trading of Fluor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Starboard Value LP purchased a new stake in Fluor in the fourth quarter worth $205,732,000. AQR Capital Management LLC lifted its stake in Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after acquiring an additional 3,203,712 shares during the period. Dimensional Fund Advisors LP lifted its stake in Fluor by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock worth $178,962,000 after acquiring an additional 377,985 shares during the period. Rubric Capital Management LP lifted its stake in Fluor by 12.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after acquiring an additional 500,000 shares during the period. Finally, Morgan Stanley lifted its stake in Fluor by 0.6% in the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after acquiring an additional 20,210 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.