Fluor (NYSE:FLR) Reaches New 52-Week Low Following Analyst Downgrade

Shares of Fluor Co. (NYSE:FLR) reached a new 52-week low during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $46.00 to $43.00. Robert W. Baird currently has a neutral rating on the stock. Fluor traded as low as $33.85 and last traded at $34.42, with a volume of 807035 shares changing hands. The stock had previously closed at $37.22.

FLR has been the subject of several other research reports. StockNews.com raised Fluor from a “hold” rating to a “buy” rating in a research report on Wednesday. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. DA Davidson decreased their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. KeyCorp increased their target price on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Citigroup dropped their price target on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.29.

Institutional Investors Weigh In On Fluor

Several institutional investors and hedge funds have recently made changes to their positions in FLR. GAMMA Investing LLC raised its position in shares of Fluor by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after purchasing an additional 213 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Fluor by 2.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after acquiring an additional 241 shares during the period. CIBC Asset Management Inc raised its stake in shares of Fluor by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after buying an additional 264 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Fluor by 4.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after acquiring an additional 277 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Trading Down 7.5 %

The firm has a 50 day moving average price of $41.08 and a two-hundred day moving average price of $47.91. The firm has a market capitalization of $5.78 billion, a P/E ratio of 2.82, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. On average, equities research analysts expect that Fluor Co. will post 2.5 EPS for the current fiscal year.

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.