Fluor (NYSE:FLR) Cut to Hold at Baird R W

Baird R W lowered shares of Fluor (NYSE:FLR) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on FLR. DA Davidson raised their price target on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Truist Financial raised their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird reissued a “neutral” rating and issued a $58.00 price objective (up previously from $54.00) on shares of Fluor in a report on Wednesday. Finally, KeyCorp upped their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus target price of $60.86.

Fluor Price Performance

FLR opened at $50.34 on Wednesday. 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 PE ratio of 33.56, a P/E/G ratio of 4.36 and a beta of 1.89. The company has a fifty day moving average price of $53.67 and a two-hundred day moving average price of $49.15. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10.

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

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of Fluor 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 completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,607 shares of company stock valued at $4,063,720. 1.70% of the stock is owned by insiders.

Institutional Trading of Fluor

Large investors have recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in shares of Fluor by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after purchasing an additional 176 shares during the last quarter. Seelaus Asset Management LLC raised its position in Fluor by 3.7% in the third 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 last quarter. ClariVest Asset Management LLC boosted its stake in shares of Fluor by 0.3% during the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock valued at $3,379,000 after purchasing an additional 233 shares in the last quarter. Xponance Inc. grew its holdings in shares of Fluor by 1.2% during the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after purchasing an additional 265 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised 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 buying an additional 277 shares during the last quarter. Institutional investors and hedge funds 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.