Fluor (NYSE:FLR) Price Target Lowered to $65.00 at Truist Financial

Fluor (NYSE:FLR) had its target price decreased by stock analysts at Truist Financial from $66.00 to $65.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price suggests a potential upside of 32.06% from the stock’s current price.

A number of other equities research analysts have also recently commented on FLR. DA Davidson increased their target price on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $58.00 price target (up previously from $54.00) on shares of Fluor in a report on Wednesday, December 18th. KeyCorp raised their price target on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.14.

Fluor Trading Down 0.1 %

FLR stock traded down $0.06 during mid-day trading on Thursday, reaching $49.22. The company had a trading volume of 60,942 shares, compared to its average volume of 1,797,982. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $8.44 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 3.39 and a beta of 1.91. The firm has a 50 day moving average of $52.34 and a 200 day moving average of $49.91. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10.

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

Insider Buying and Selling at Fluor

In other news, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark E. Fields sold 50,000 shares of the firm’s 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Hedge funds and other institutional investors have recently modified their holdings of the business. Aequim Alternative Investments LP lifted its stake in shares of Fluor by 6.0% in the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after buying an additional 41,800 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after purchasing an additional 9,992 shares during the period. AQR Capital Management LLC raised its stake in Fluor by 63.8% during the second quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after purchasing an additional 222,070 shares during the period. Charles Schwab Investment Management Inc. raised its stake in 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 purchasing an additional 457,220 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its stake in Fluor by 67.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after purchasing an additional 19,836 shares during the period. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.