Yahoo Finance Trade Alert: The Independent Director Of Fluor Corporation (NYSE:FLR), James Hackett, Has Just Spent US$1.0m Buying 79% More Shares
Fluor Corporation (NYSE:FLR) shareholders (or potential shareholders) will be happy to see that the Independent Director, James Hackett, recently bought a whopping US$1.0m worth of stock, at a price of US$25.56. That increased their holding by a full 79%, which arguably implies the sort of confidence required for a shy sweet-natured nerd to ask the most popular kid in the school to go out on a date.
See our latest analysis for Fluor
Fluor Insider Transactions Over The Last Year
Notably, that recent purchase by James Hackett is the biggest insider purchase of Fluor shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$27.26. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for Fluor share holders is that an insider was buying at near the current price. James Hackett was the only individual insider to buy during the last year.
The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Fluor is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Fluor
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 1.0% of Fluor shares, worth about US$40m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About Fluor Insiders?
The recent insider purchase is heartening. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Given that insiders also own a fair bit of Fluor we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. While conducting our analysis, we found that Fluor has 1 warning sign and it would be unwise to ignore this.
But note: Fluor may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
