Fluor (NYSE:FLR) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Fluor Corporation (NYSE:FLR) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $47.65 and traded as high as $50.59. Fluor shares last traded at $49.4530, with a volume of 1,274,431 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research lowered shares of Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Truist Financial boosted their target price on shares of Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Citigroup dropped their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Robert W. Baird increased their price objective on Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.20.

Fluor Stock Down 2.6%

The business’s fifty day moving average price is $48.88 and its 200 day moving average price is $47.65. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 1.61 and a beta of 1.23. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR) last issued its quarterly earnings results 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). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities analysts expect that Fluor Corporation will post 2.63 EPS for the current year.

Institutional Investors Weigh In On Fluor

Several hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC grew its holdings in shares of Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after buying an additional 311 shares during the last quarter. Assetmark Inc. raised its stake in Fluor by 249.0% during the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after acquiring an additional 483 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Fluor during the 4th quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Fluor in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds 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.