Fluor (NYSE:FLR) Given New $65.00 Price Target at Truist Financial

Fluor (NYSE:FLR) had its target price reduced by analysts at Truist Financial from $66.00 to $65.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price target points to a potential upside of 29.27% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp upped their price objective on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Robert W. Baird reissued a “neutral” rating and set a $58.00 target price (up previously from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Finally, DA Davidson upped their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor presently has a consensus rating of “Moderate Buy” and an average price target of $60.14.

Fluor Trading Up 1.6 %

NYSE:FLR opened at $50.28 on Thursday. Fluor has a 12-month low of $35.04 and a 12-month high of $60.10. The firm has a market cap of $8.62 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 3.39 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $52.13 and a 200 day moving average price of $49.95.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (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 company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares in the company, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FLR. Geode Capital Management LLC grew its position in Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after buying an additional 51,018 shares during the last quarter. Rubric Capital Management LP lifted its stake in shares of Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after acquiring an additional 614,521 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fluor by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after acquiring an additional 323,111 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Fluor by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after purchasing an additional 9,789 shares in the last quarter. Institutional investors and hedge funds 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.