Is Major Move Coming For Fluor Corporation (FLR) After This Bullish Double Top Pattern?

June 16, 2018 - By reb123z

Fluor Corporation (NYSE:FLR) Logo

Investors sentiment increased to 0.87 in Q1 2018. Its up 0.04, from 0.83 in 2017Q4. It increased, as 40 investors sold Fluor Corporation shares while 154 reduced holdings. 58 funds opened positions while 110 raised stakes. 117.26 million shares or 0.89% less from 118.31 million shares in 2017Q4 were reported.
Schafer Cullen Cap Mgmt Incorporated holds 0.01% or 20,050 shares in its portfolio. Citigroup reported 0.01% of its portfolio in Fluor Corporation (NYSE:FLR). Advsrs Asset Management accumulated 0.09% or 89,513 shares. Tiaa Cref Inv Mngmt Lc holds 0.02% in Fluor Corporation (NYSE:FLR) or 412,375 shares. New Mexico Educational Retirement Board accumulated 13,321 shares. Ent Finance Serv Corp accumulated 183 shares or 0.01% of the stock. Synovus Corp reported 435 shares. Nomura Asset Management Communications Ltd holds 24,429 shares. Barclays Public Limited Liability Com has 197,588 shares for 0.01% of their portfolio. Inv Counselors Of Maryland Ltd Com holds 6,369 shares. 107,000 were accumulated by Pacific Heights Asset Ltd. 15,000 are owned by Teachers Retirement Of The State Of Kentucky. Raymond James Financial Incorporated reported 21,965 shares or 0.01% of all its holdings. Moreover, Fincl Bank Of The West has 0.06% invested in Fluor Corporation (NYSE:FLR). Huber Capital Mngmt Lc has invested 0.27% in Fluor Corporation (NYSE:FLR).

Since February 23, 2018, it had 2 insider purchases, and 10 sales for $5.14 million activity. Another trade for 3,718 shares valued at $213,547 was sold by Stanski Bruce A. $17,440 worth of Fluor Corporation (NYSE:FLR) shares were bought by Locklear Samuel J. $205,089 worth of stock was sold by De Haan Taco on Friday, March 9. On Thursday, March 1 Seaton David Thomas sold $2.84M worth of Fluor Corporation (NYSE:FLR) or 50,000 shares. Flowers Garry William sold $224,320 worth of stock. 3,882 shares were sold by Bustamante Jose Luis M., worth $222,942.

The chart of Fluor Corporation (FLR) shows a double top with $50.63 target or 4.00 % above today’s $48.68 share price. The 9 months chart pattern indicates low risk for the $6.84B company. It was reported on Jun, 16 by Finviz.com. If the $50.63 price target is reached, the company will be worth $273.76 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.43% or $0.21 during the last trading session, reaching $48.68. About 2.34 million shares traded or 39.91% up from the average. Fluor Corporation (NYSE:FLR) has risen 7.11% since June 16, 2017 and is uptrending. It has underperformed by 5.46% the S&P500.

Analysts await Fluor Corporation (NYSE:FLR) to report earnings on August, 2. They expect $0.69 EPS, down 4.17 % or $0.03 from last year’s $0.72 per share. FLR’s profit will be $97.01 million for 17.64 P/E if the $0.69 EPS becomes a reality. After $0.56 actual EPS reported by Fluor Corporation for the previous quarter, Wall Street now forecasts 23.21 % EPS growth.

Fluor Corporation (NYSE:FLR) Ratings Coverage

Among 12 analysts covering Fluor (NYSE:FLR), 5 have Buy rating, 0 Sell and 7 Hold. Therefore 42% are positive. Fluor had 21 analyst reports since January 3, 2018 according to SRatingsIntel. The stock of Fluor Corporation (NYSE:FLR) has “Overweight” rating given on Friday, February 9 by KeyBanc Capital Markets. Benchmark maintained the shares of FLR in report on Friday, May 4 with “Buy” rating. The stock of Fluor Corporation (NYSE:FLR) earned “Buy” rating by Canaccord Genuity on Wednesday, February 21. The rating was maintained by DA Davidson with “Neutral” on Friday, May 4. Barclays Capital maintained Fluor Corporation (NYSE:FLR) rating on Tuesday, February 27. Barclays Capital has “Equal-Weight” rating and $62 target. The rating was maintained by Barclays Capital on Wednesday, January 24 with “Equal-Weight”. On Monday, April 2 the stock rating was maintained by Citigroup with “Buy”. Credit Suisse maintained Fluor Corporation (NYSE:FLR) on Monday, May 7 with “Outperform” rating. The firm has “Outperform” rating given on Thursday, February 22 by Credit Suisse. As per Friday, May 4, the company rating was downgraded by Robert W. Baird.

More notable recent Fluor Corporation (NYSE:FLR) news were published by: Globenewswire.com which released: “Consolidated Research: 2018 Summary Expectations for Liberty Property Trust, Goldcorp, Restoration Hardware …” on June 13, 2018, also Globenewswire.com with their article: “SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies Investors of Class Actions Involving Prothena …” published on June 15, 2018, Globenewswire.com published: “FLR LOSS NOTICE: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Fluor Corporation …” on June 08, 2018. More interesting news about Fluor Corporation (NYSE:FLR) were released by: Globenewswire.com and their article: “UPDATE — The Klein Law Firm Reminds Investors of Class Actions Commenced on Behalf of Shareholders of Fluor …” published on June 15, 2018 as well as Businesswire.com‘s news article titled: “INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses in Excess of $100000 from Investment …” with publication date: June 15, 2018.

Fluor Corporation, through its subsidiaries, provides engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, and project management services worldwide. The company has market cap of $6.84 billion. It operates through four divisions: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Maintenance, Modification & Asset Integrity ; and Government. It has a 60.7 P/E ratio. The Energy, Chemicals & Mining segment offers a range of design, engineering, procurement, construction, fabrication, and project management services to upstream, downstream, chemical, petrochemical, offshore and onshore gas and oil production, liquefied natural gas, pipeline, and metals and mining markets.

Fluor Corporation (NYSE:FLR) Institutional Positions Chart

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