Fluor (NYSE:FLR) Price Target Lowered to $65.00 at Truist Financial

Fluor (NYSE:FLR) had its target price lowered by Truist Financial from $66.00 to $65.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other brokerages also recently weighed in on FLR. Robert W. Baird reiterated a “neutral” rating and issued a $58.00 price target (up from $54.00) on shares of Fluor in a report on Wednesday, December 18th. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. KeyCorp raised their price target on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluor has a consensus rating of “Moderate Buy” and a consensus price target of $60.14.

Fluor Stock Up 1.6 %

Shares of NYSE:FLR opened at $50.28 on Thursday. The company has a market capitalization of $8.62 billion, a P/E ratio of 33.52, a P/E/G ratio of 3.39 and a beta of 1.91. The stock’s fifty day simple moving average is $52.13 and its 200-day simple moving average is $50.00. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Fluor’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, equities research analysts forecast that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Fluor

In related news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluor

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in shares of Fluor by 22.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 86,881 shares of the construction company’s stock valued at $4,285,000 after acquiring an additional 15,988 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Fluor by 25.7% in the fourth quarter. SG Americas Securities LLC now owns 18,848 shares of the construction company’s stock valued at $930,000 after purchasing an additional 3,855 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after purchasing an additional 241 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Fluor by 49.1% during the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after purchasing an additional 412,312 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Fluor by 13.1% in the 4th quarter. Hennessy Advisors Inc. now owns 1,040,600 shares of the construction company’s stock valued at $51,322,000 after purchasing an additional 120,800 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

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.