Robert W. Baird Reiterates Neutral Rating for Fluor (NYSE:FLR)

Fluor (NYSE:FLR)‘s stock had its “neutral” rating restated by analysts at Robert W. Baird in a report issued on Wednesday, Marketbeat reports. They presently have a $58.00 price target on the construction company’s stock, up from their previous price target of $54.00. Robert W. Baird’s price target suggests a potential upside of 15.81% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Truist Financial increased their price objective 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. UBS Group boosted their price target on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. 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. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, KeyCorp upped their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Fluor currently has an average rating of “Moderate Buy” and an average price target of $60.86.

Fluor Stock Down 0.1 %

FLR stock opened at $50.08 on Wednesday. The business has a 50-day moving average of $53.67 and a 200-day moving average of $49.15. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The stock has a market capitalization of $8.59 billion, a P/E ratio of 33.39, a P/E/G ratio of 4.36 and a beta of 1.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last posted its quarterly earnings data 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 business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business earned $1.02 earnings per share. Fluor’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In other news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. This represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,607 shares of company stock worth $4,063,720. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Fluor by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after buying an additional 51,018 shares in the last quarter. Rubric Capital Management LP raised its position in Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Fluor by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after purchasing an additional 323,111 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after purchasing an additional 457,220 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Fluor by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock valued at $95,648,000 after purchasing an additional 9,789 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.