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

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

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

Fluor Stock Performance

Shares of FLR stock traded down $8.00 during trading hours on Thursday, reaching $50.93. The stock had a trading volume of 12,423,455 shares, compared to its average volume of 2,091,830. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50-day simple moving average of $49.80 and a 200-day simple moving average of $46.44. The firm has a market capitalization of $8.72 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.54 and a beta of 1.90. Fluor has a twelve month low of $34.17 and a twelve month high of $60.10.

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

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO John C. Regan sold 13,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares in the company, valued at $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph L. Brennan sold 11,619 shares of Fluor 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 in the company, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,261 shares of company stock valued at $2,156,604. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Institutional investors have recently bought and sold shares of the business. Hood River Capital Management LLC purchased a new stake in shares of Fluor in the second quarter worth approximately $47,559,000. Rubric Capital Management LP increased its stake in shares of Fluor by 23.6% in the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after acquiring an additional 614,521 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 323,111 shares in the last quarter. Great Lakes Advisors LLC boosted its position in Fluor by 2,441.9% during the second quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock valued at $12,310,000 after purchasing an additional 271,535 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after purchasing an additional 254,904 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.