Fluor (NYSE:FLR) Price Target Raised to $63.00 at UBS Group

Fluor (NYSE:FLR) had its price target raised by equities research analysts at UBS Group from $51.00 to $63.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. UBS Group’s price objective indicates a potential upside of 20.30% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. DA Davidson raised their price objective on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a report on Wednesday, July 17th. Finally, 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 research note on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.29.

Fluor Stock Down 0.9 %

Shares of Fluor stock opened at $52.37 on Wednesday. The firm has a market cap of $8.97 billion, a PE ratio of 30.45, a P/E/G ratio of 2.18 and a beta of 1.91. The business’s 50 day simple moving average is $48.75 and its 200 day simple moving average is $45.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. Fluor has a 52-week low of $32.31 and a 52-week high of $55.86.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, analysts predict that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In related news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares in the company, valued at approximately $2,107,972.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Joseph L. Brennan sold 15,335 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares in the company, valued at $2,107,972.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. ClariVest Asset Management LLC increased its stake in shares of Fluor by 0.3% in the 2nd 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 during the last quarter. Xponance Inc. grew its position in Fluor by 1.2% in the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 265 shares during the last quarter. JGP Wealth Management LLC raised its stake in Fluor by 5.6% during the third quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock worth $253,000 after acquiring an additional 283 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Fluor by 46.4% in the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Fluor by 0.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock valued at $2,739,000 after purchasing an additional 286 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

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.