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

Fluor (NYSE:FLR) had its price objective boosted by KeyCorp from $59.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price suggests a potential upside of 22.82% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group raised their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Robert W. Baird reiterated a “neutral” rating and set a $58.00 price target (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, DA Davidson boosted their price target on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Fluor presently has an average rating of “Moderate Buy” and an average target price of $60.29.

Fluor Price Performance

NYSE FLR traded down $1.69 during trading on Wednesday, reaching $48.85. The company’s stock had a trading volume of 2,198,973 shares, compared to its average volume of 1,843,663. The firm has a fifty day moving average of $52.97 and a 200 day moving average of $49.74. Fluor has a one year low of $35.04 and a one year high of $60.10. The stock has a market capitalization of $8.38 billion, a PE ratio of 32.57, a P/E/G ratio of 4.27 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 announced its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. Analysts expect that Fluor will post 2.62 EPS for the current fiscal year.

Insider Transactions at Fluor

In other Fluor news, 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 transaction of $433,131.59. Following the transaction, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its stake in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after acquiring an additional 527 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fluor during the second quarter valued at approximately $51,000. Quest Partners LLC bought a new stake in shares of Fluor during the second quarter valued at approximately $52,000. Quarry LP raised its holdings in Fluor by 244.7% in the 3rd quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after acquiring an additional 942 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Fluor in the 3rd quarter valued at approximately $96,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.