Truist Financial Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its price target upped by Truist Financial from $62.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Several other research firms also recently commented on FLR. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday. KeyCorp upped their price target on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group lifted their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, DA Davidson boosted their price objective on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus price target of $60.86.

Fluor Price Performance

FLR opened at $50.08 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. The stock has a fifty day simple moving average of $53.67 and a two-hundred day simple moving average of $49.15. Fluor has a 12-month low of $35.04 and a 12-month high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business earned $1.02 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Research analysts predict that Fluor will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at $2,676,885.27. The trade was a 6.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction 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 transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,607 shares of company stock valued at $4,063,720. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock worth $41,077,000 after purchasing an additional 254,904 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Fluor in the 3rd quarter worth $215,000. Birmingham Capital Management Co. Inc. AL bought a new stake in Fluor during the third quarter valued at about $202,000. Cim Investment Management Inc. purchased a new position in shares of Fluor in the third quarter valued at about $391,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Fluor during the third quarter worth about $96,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.