Fluor (NYSE:FLR) Price Target Raised to $60.00

Fluor (NYSE:FLR) had its target price increased by KeyCorp from $59.00 to $60.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other analysts have also recently issued research reports about the company. UBS Group increased their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial raised their price objective on shares of Fluor from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Robert W. Baird reiterated a “neutral” rating and issued a $58.00 target price (up from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Trading Down 2.1 %

Shares of Fluor stock opened at $48.27 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 stock has a market capitalization of $8.28 billion, a P/E ratio of 32.18, a P/E/G ratio of 4.27 and a beta of 1.91. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10. The stock’s 50-day simple moving average is $52.83 and its 200 day simple moving average is $49.73.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS 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 the consensus estimate of $4.74 billion. During the same period last year, the business posted $1.02 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Fluor will post 2.62 EPS for the current year.

Insider Buying and Selling at Fluor

In related news, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction on 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of institutional investors have recently made changes to their positions in FLR. Arizona State Retirement System raised its holdings in Fluor by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 47,639 shares of the construction company’s stock valued at $2,075,000 after buying an additional 816 shares during the last quarter. Quest Partners LLC purchased a new stake in Fluor in the 2nd quarter worth approximately $52,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Fluor in the 2nd quarter worth approximately $51,000. Choreo LLC purchased a new position in shares of Fluor during the second quarter valued at approximately $250,000. Finally, United Services Automobile Association lifted its stake in Fluor by 7.2% in the second quarter. United Services Automobile Association now owns 13,546 shares of the construction company’s stock worth $590,000 after acquiring an additional 904 shares during the period. Hedge funds and other institutional investors 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.