DA Davidson Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price reduced by equities researchers at DA Davidson from $65.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. DA Davidson’s price target suggests a potential upside of 40.36% from the company’s previous close.

A number of other research analysts have also recently issued reports on FLR. Truist Financial reduced their price objective on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. UBS Group raised their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup lowered their price target on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, KeyCorp lifted their price objective on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Fluor presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Fluor Trading Down 1.4 %

NYSE FLR traded down $0.57 during trading hours on Wednesday, hitting $39.19. 1,717,743 shares of the company’s stock were exchanged, compared to its average volume of 3,072,293. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.06 and a beta of 1.89. The stock has a 50-day simple moving average of $49.64 and a 200 day simple moving average of $50.22. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 1-year low of $35.04 and a 1-year high of $60.10.

Fluor (NYSE:FLR) last announced 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 net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. On average, equities analysts forecast that Fluor will post 2.62 EPS for the current fiscal year.

Insider Transactions at Fluor

In other news, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the sale, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. lifted its stake in shares of Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock valued at $97,954,000 after buying an additional 1,523,647 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Fluor by 10,125.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock worth $52,129,000 after acquiring an additional 1,046,610 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Fluor in the third quarter worth $39,289,000. Hood River Capital Management LLC grew its position in shares of Fluor by 58.4% in the fourth quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company’s stock valued at $96,285,000 after purchasing an additional 719,583 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new stake in shares of Fluor during the 4th quarter valued at $26,353,000. Institutional investors own 88.07% of the company’s stock.

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.