Fluor (NYSE:FLR) Hits New 1-Year Low – Time to Sell?

Shares of Fluor Co. (NYSE:FLR) hit a new 52-week low during trading on Tuesday . The company traded as low as $35.83 and last traded at $35.84, with a volume of 43752 shares. The stock had previously closed at $36.92.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FLR shares. Citigroup lowered their target price on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. DA Davidson cut their target price on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. KeyCorp boosted their target price on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Truist Financial cut their price target on Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and an average price target of $54.71.

Fluor Stock Performance

The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 2.98, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $46.66 and its 200-day simple moving average is $49.49.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Analysts predict that Fluor Co. will post 2.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Neo Ivy Capital Management lifted its holdings in shares of Fluor by 45.2% during the fourth quarter. Neo Ivy Capital Management now owns 65,943 shares of the construction company’s stock valued at $3,252,000 after acquiring an additional 20,541 shares during the period. State of Wyoming raised its stake in shares of Fluor by 165.6% in the fourth quarter. State of Wyoming now owns 5,068 shares of the construction company’s stock worth $250,000 after acquiring an additional 3,160 shares during the last quarter. Tema Etfs LLC bought a new stake in shares of Fluor during the fourth quarter valued at approximately $5,317,000. Point72 Hong Kong Ltd increased its holdings in shares of Fluor by 15.6% in the fourth quarter. Point72 Hong Kong Ltd now owns 43,248 shares of the construction company’s stock valued at $2,133,000 after purchasing an additional 5,849 shares in the last quarter. Finally, Potrero Capital Research LLC bought a new position in Fluor in the 4th quarter worth approximately $14,115,000. 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.