Fluor (NYSE:FLR) Price Target Raised to $66.00

Fluor (NYSE:FLR) had its price target increased by Truist Financial from $62.00 to $66.00 in a report issued on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Other equities analysts have also issued reports about the stock. KeyCorp boosted their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson boosted their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group raised their price target on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird restated a “neutral” rating and issued a $58.00 target price (up previously from $54.00) on shares of Fluor in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.86.

Fluor Price Performance

FLR stock opened at $50.34 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 4.36 and a beta of 1.89. The firm has a 50 day moving average price of $53.66 and a 200-day moving average price of $49.20. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10.

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

Insider Buying and Selling

In other news, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,607 shares of company stock valued at $4,063,720. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after acquiring an additional 176 shares during the period. Seelaus Asset Management LLC raised its stake in Fluor by 3.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after purchasing an additional 230 shares during the period. ClariVest Asset Management LLC boosted its stake in Fluor by 0.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after purchasing an additional 233 shares during the period. Xponance Inc. grew its holdings in Fluor by 1.2% during the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after buying an additional 265 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Fluor by 4.9% during the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after buying an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

About Fluor

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.