Fluor Corporation (NYSE:FLR) Receives $63.33 Consensus PT from Brokerages

Fluor Corporation (NYSE:FLR) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $63.3333.

A number of research firms recently commented on FLR. Barclays lifted their price target on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Robert W. Baird raised their target price on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Citigroup boosted their target price on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. UBS Group upped their price target on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st.

Fluor Price Performance

FLR opened at $54.89 on Friday. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $58.35. The firm has a 50-day moving average of $52.64 and a 200 day moving average of $49.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market cap of $7.34 billion, a P/E ratio of -4.47, a PEG ratio of 1.72 and a beta of 1.26.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts expect that Fluor will post 2.66 EPS for the current year.

Insider Activity

In related news, insider Pierre Bechelany sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider directly owned 36,064 shares in the company, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fluor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its position in shares of Fluor by 45.2% during the first quarter. Empowered Funds LLC now owns 138,342 shares of the construction company’s stock valued at $6,454,000 after buying an additional 43,078 shares during the period. State of Wyoming bought a new position in shares of Fluor in the second quarter valued at approximately $1,358,000. Energy Income Partners LLC purchased a new position in Fluor during the second quarter valued at approximately $5,826,000. Pacific Heights Asset Management LLC increased its holdings in Fluor by 23.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock worth $15,852,000 after acquiring an additional 75,000 shares during the period. Finally, Old West Investment Management LLC purchased a new stake in Fluor in the 2nd quarter worth approximately $13,348,000. Institutional investors own 88.07% of the company’s stock.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.