SSgA Funds Management, Inc. recently announced the acquisition of new stake in Fluor Corporation (NYSE:FLR). The institutional investor has increased its shareholding in the Industrials company by 28.78% to 4.81 million shares with purchase of 1.07 million shares. This fresh investment now brings its stake to 3.43% valued currently at $49.01 million. In addition, Koch Industries, Inc. (Investment.. raised its holdings by 3.13 million to 3.13 million shares. And Northern Trust Investments, Inc.(.. has lifted its position by 87.58% or 1.08 million shares – to 2.31 million shares.
With over 2.05 million Fluor Corporation (FLR) shares trading Monday and a closing price of $9.52 on the day, the dollar volume was approximately $19.55 million. The shares have shown a negative weekly performance of -3.94% and its price on 08/31/20 lost nearly -1.45%. Currently, there are 140.16M common shares owned by the public and among those 125.33M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for FLR have a consensus price objective of $13.75. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $10.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Fluor Corporation stock is 3.10 for the next 12 months. The average price target is 28.15% above its last price level and an upside to the estimated low will see the stock gain 4.8% over that period. But an upside of 56.73% will see the stock hit the forecast high price target while mean target price for the stock is $11.50.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 264,701 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 35,538 shares.
The top 3 mutual fund holders in Fluor Corporation are Caisse de Dépôt & Placement du Qu, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. Caisse de Dépôt & Placement du Qu owns 6.94 million shares of the company’s stock, all valued at over $70.67 million. The company bought an additional 2.91 million shares recently to bring their total holdings to about 4.95% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 49244.0 shares to see its total holdings shrink to 3.72 million shares valued at over $37.94 million and representing 2.66% of the shares outstanding. Vanguard Total Stock Market Index sold 66442.0 shares to bring its total holdings to over 3.59 million shares at a value of $36.55 million. Vanguard Total Stock Market Index now owns shares totaling to 2.56% of the shares outstanding.
Shares of Fluor Corporation (NYSE: FLR) opened at $9.63, down -$0.03 from a prior closing price of $9.66. However, the script later closed the day at $9.52, down -1.45%. The company’s stock has a 5-day price change of -3.94% and -21.97% over the past three months. FLR shares are trading -49.58% year to date (YTD), with the 12-month market performance down to -46.12% lower. It has a 12-month low price of $2.85 and touched a high of $22.49 over the same period. Currently, 2.05 million shares have been traded, compared to an average intraday trading volume of 2.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.37%, -17.34%, and -26.25% respectively.
Institutional ownership of Fluor Corporation (NYSE: FLR) shares accounts for 82.80% of the company’s 140.16M shares outstanding. Mutual fund holders own 30.48%, while other institutional holders and individual stakeholders account for 37.41% and 2.01% respectively.
It has a market capitalization of $1.34B and a beta (3y monthly) value of 2.80. The earnings-per-share (ttm) stands at -$9.81. The company has a debt-to-equity ratio at 1.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.48% over the week and 4.97% over the month.
Analysts forecast that Fluor Corporation (FLR) will achieve an EPS of -$0.08 for the current quarter, $0.26 for the next quarter and $1.12 for 2020. The lowest estimate earnings-per-share for the quarter is -$1.1 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to decrease by -16.10%, and 110.90% over the next financial year. EPS should grow at an annualized rate of -9.10% over the next five years, compared to -17.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Fluor Corporation (FLR) as a “Hold” at a consensus score of 3.10. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 7 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FLR, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on April 27, 2020, with the firm’s price target at $29-$11. Citigroup coverage for the Fluor Corporation (FLR) stock in a research note released on April 27, 2020 offered a Neutral rating with a price target of $10. Credit Suisse was of a view on February 19, 2020 that the stock is Neutral, while Canaccord Genuity gave the stock Hold rating on February 19, 2020, issuing a price target of $14. Canaccord Genuity on their part issued Buy rating on August 22, 2019.