Truist Financial Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price dropped by Truist Financial from $65.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective would indicate a potential upside of 53.81% from the stock’s current price.

Other analysts have also issued reports about the stock. UBS Group increased their price target on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson dropped their price target on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird lowered their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup decreased their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.43.

Fluor Price Performance

Shares of FLR traded down $0.74 during trading hours on Wednesday, reaching $39.01. 2,129,659 shares of the company traded hands, compared to its average volume of 3,084,526. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The stock has a fifty day simple moving average of $49.64 and a 200 day simple moving average of $50.22. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.69 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 3.06 and a beta of 1.89.

Fluor (NYSE:FLR) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. As a group, research analysts predict that Fluor will post 2.62 EPS for the current fiscal year.

Insider Transactions at Fluor

In related news, insider Mark E. Fields sold 50,000 shares of Fluor 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 completion of the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several hedge funds have recently bought and sold shares of FLR. Versant Capital Management Inc increased its position in Fluor by 2,509.5% during the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after buying an additional 527 shares during the period. Sterling Capital Management LLC boosted its position in Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock worth $30,000 after purchasing an additional 408 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Fluor in the fourth quarter valued at $33,000. Smartleaf Asset Management LLC lifted its position in shares of Fluor by 43.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after acquiring an additional 287 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Fluor in the fourth quarter valued at $57,000. 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.