Fluor (NYSE:FLR) Price Target Raised to $64.00

Fluor (NYSE:FLR) had its price target hoisted by KeyCorp from $57.00 to $64.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Other analysts have also issued research reports about the company. DA Davidson increased their price objective on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Robert W. Baird boosted their price objective on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial lifted their target price on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their price objective on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Finally, UBS Group increased their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.29.

Fluor Price Performance

Shares of Fluor stock traded down $8.00 on Thursday, hitting $50.93. The company’s stock had a trading volume of 12,423,455 shares, compared to its average volume of 2,091,830. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $49.80 and a 200-day moving average price of $46.44. Fluor has a 52-week low of $34.17 and a 52-week high of $60.10. The company has a market capitalization of $8.72 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 2.54 and a beta of 1.90.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.27). Fluor had a net margin of 2.62% and a return on equity of 25.02%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Joseph L. Brennan sold 11,619 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,107,972.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the sale, the chief financial officer now owns 41,908 shares in the company, valued at approximately $2,107,972.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now directly owns 53,527 shares in the company, valued at $2,676,885.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Janus Henderson Group PLC increased its position in shares of Fluor by 20.3% during the first quarter. Janus Henderson Group PLC now owns 78,374 shares of the construction company’s stock worth $3,311,000 after acquiring an additional 13,203 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Fluor by 230.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 59,403 shares of the construction company’s stock valued at $2,587,000 after purchasing an additional 41,428 shares in the last quarter. Swiss National Bank lifted its position in shares of Fluor by 19.1% during the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock worth $14,223,000 after purchasing an additional 53,900 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Fluor by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after buying an additional 222,070 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Fluor by 19.8% in the first quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock worth $9,568,000 after purchasing an additional 37,435 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.