Fluor Co. (NYSE:FLR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Fluor Co. (NYSE:FLR) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $60.86.

Several equities analysts recently weighed in on the stock. DA Davidson raised their target price on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. UBS Group lifted their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Robert W. Baird restated a “neutral” rating and issued a $58.00 price objective (up previously from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. Finally, KeyCorp lifted their target price on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th.

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 50,000 shares of the firm’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 transaction, the insider now directly owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 21.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,312 shares of company stock worth $4,049,707 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aequim Alternative Investments LP increased its position 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 purchasing an additional 41,800 shares during the period. Los Angeles Capital Management LLC grew 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 buying an additional 9,992 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Fluor by 63.8% in the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after buying an additional 222,070 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its stake in Fluor by 67.7% in the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock valued at $2,345,000 after acquiring an additional 19,836 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Stock Performance

Shares of FLR opened at $49.34 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. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10. The firm has a fifty day simple moving average of $53.39 and a 200 day simple moving average of $49.49. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last released its 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 company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm posted $1.02 EPS. Fluor’s revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that Fluor will post 2.62 EPS for the current fiscal year.

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.