Fluor (NYSE:FLR) Price Target Raised to $61.00 at Truist Financial

Fluor (NYSE:FLR) had its price objective upped by Truist Financial from $54.00 to $61.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other brokerages have also recently issued reports on FLR. Citigroup increased their target price on Fluor from $47.00 to $52.00 and gave the stock a neutral rating in a report on Monday, July 22nd. KeyCorp upgraded Fluor from a sector weight rating to an overweight rating and set a $57.00 target price on the stock in a report on Wednesday, July 17th. Barclays increased their target price on Fluor from $39.00 to $45.00 and gave the stock an equal weight rating in a report on Thursday, July 18th. Finally, Robert W. Baird increased their price target on Fluor from $46.00 to $54.00 and gave the company an outperform rating in a research report on Monday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Fluor presently has a consensus rating of Moderate Buy and a consensus price target of $52.00.

Fluor Price Performance

NYSE FLR traded up $0.29 during trading on Monday, hitting $46.51. 1,357,142 shares of the company’s stock were exchanged, compared to its average volume of 1,584,729. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.56. The company has a market cap of $7.96 billion, a PE ratio of 27.36, a P/E/G ratio of 2.55 and a beta of 1.99. Fluor has a fifty-two week low of $32.31 and a fifty-two week high of $51.64. The stock’s 50 day moving average price is $45.40 and its two-hundred day moving average price is $41.53.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.17. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Research analysts expect that Fluor will post 2.9 EPS for the current year.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its holdings in Fluor by 7.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 794,174 shares of the construction company’s stock valued at $31,108,000 after acquiring an additional 53,398 shares during the period. Principal Financial Group Inc. boosted its holdings in Fluor by 18.5% during the 4th quarter. Principal Financial Group Inc. now owns 631,381 shares of the construction company’s stock valued at $24,731,000 after acquiring an additional 98,381 shares during the period. Hennessy Advisors Inc. boosted its holdings in Fluor by 18.0% during the 1st quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock valued at $34,276,000 after acquiring an additional 123,500 shares during the period. Diversified Trust Co purchased a new position in Fluor during the 1st quarter valued at $1,368,000. Finally, Janus Henderson Group PLC boosted its holdings in Fluor by 20.3% during the 1st quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock valued at $3,311,000 after acquiring an additional 13,203 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.