Baird R W Downgrades Fluor (NYSE:FLR) to Hold

Fluor (NYSE:FLR) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on FLR. Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 target price (up from $54.00) on shares of Fluor in a research report on Wednesday. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. KeyCorp increased their target price on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Truist Financial upped their price target on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group boosted their target price on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.86.

Fluor Stock Up 1.8 %

Shares of NYSE:FLR traded up $0.91 during mid-day trading on Wednesday, hitting $51.02. 30,408 shares of the company traded hands, compared to its average volume of 1,722,219. The stock has a market cap of $8.75 billion, a P/E ratio of 34.01, a P/E/G ratio of 4.36 and a beta of 1.89. The stock has a 50-day moving average price of $53.67 and a two-hundred day moving average price of $49.15. Fluor has a 12-month low of $35.04 and a 12-month high of $60.10. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last announced its earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the company earned $1.02 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Fluor will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In other Fluor news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now directly owns 147,045 shares of the company’s stock, valued at $8,327,158.35. The trade was a 25.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,942 shares of company stock valued at $4,793,206 over the last quarter. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Several hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new stake in Fluor in the third quarter worth $215,000. Birmingham Capital Management Co. Inc. AL purchased a new position in Fluor in the third quarter worth about $202,000. Cim Investment Management Inc. purchased a new stake in shares of Fluor during the third quarter valued at approximately $391,000. Wilmington Savings Fund Society FSB purchased a new position in Fluor in the 3rd quarter worth approximately $96,000. Finally, Sanctuary Advisors LLC raised its stake in shares of Fluor by 18.2% in the third quarter. Sanctuary Advisors LLC now owns 5,820 shares of the construction company’s stock worth $278,000 after purchasing an additional 897 shares during the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Company Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.