Fluor (NYSE:FLR) Price Target Cut to $55.00 by Analysts at DA Davidson

Fluor (NYSE:FLR) had its price objective cut by DA Davidson from $65.00 to $55.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities analysts have also weighed in on FLR. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial lowered their price target on shares of Fluor from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Robert W. Baird lowered their price target on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group boosted their price target on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp boosted their price target on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.43.

Fluor Stock Down 0.4 %

FLR stock opened at $39.58 on Wednesday. The stock has a market capitalization of $6.79 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.06 and a beta of 1.89. The firm has a 50-day simple moving average of $49.31 and a 200-day simple moving average of $50.14. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. 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 Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Equities analysts forecast that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

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

Hedge Funds Weigh In On Fluor

Several large investors have recently made changes to their positions in FLR. CWM LLC increased its stake in Fluor by 34.9% during the 3rd quarter. CWM LLC now owns 5,414 shares of the construction company’s stock worth $258,000 after buying an additional 1,400 shares during the period. Creative Planning increased its stake in Fluor by 35.5% during the 3rd quarter. Creative Planning now owns 42,001 shares of the construction company’s stock worth $2,004,000 after buying an additional 11,014 shares during the period. Vontobel Holding Ltd. purchased a new stake in Fluor during the 3rd quarter worth approximately $418,000. Bleakley Financial Group LLC purchased a new stake in shares of Fluor in the 3rd quarter valued at approximately $204,000. Finally, Raymond James & Associates increased its position in shares of Fluor by 9.4% in the 3rd quarter. Raymond James & Associates now owns 96,025 shares of the construction company’s stock valued at $4,581,000 after purchasing an additional 8,232 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.