Fluor (NYSE:FLR) Stock Price Expected to Rise, Truist Financial Analyst Says

Fluor (NYSE:FLR) had its target price boosted by research analysts at Truist Financial from $62.00 to $66.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target indicates a potential upside of 31.11% from the stock’s current price.

Several other brokerages have also recently issued reports on FLR. KeyCorp lifted their target price on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reissued a “neutral” rating and issued a $58.00 target price (up from $54.00) on shares of Fluor in a research note on Wednesday. DA Davidson upped their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, UBS Group lifted their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.86.

Fluor Stock Performance

FLR opened at $50.34 on Thursday. The firm’s fifty day simple moving average is $53.67 and its two-hundred day simple moving average is $49.15. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 4.36 and a beta of 1.89. 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 posted its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 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 analysts’ expectations of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Fluor’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. Equities analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Joseph L. Brennan sold 4,012 shares of the company’s 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 transaction, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the sale, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,607 shares of company stock valued at $4,063,720 over the last quarter. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Aequim Alternative Investments LP raised its holdings in shares of Fluor by 6.0% in the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after buying an additional 41,800 shares during the period. Los Angeles Capital Management LLC grew its position in Fluor by 139.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock valued at $819,000 after acquiring an additional 9,992 shares in the last quarter. AQR Capital Management LLC increased its stake in Fluor by 63.8% during the second quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after purchasing an additional 222,070 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Fluor by 27.9% in the third 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 in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Fluor by 67.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after acquiring an additional 19,836 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.