Brokerages Set Fluor Co. (NYSE:FLR) Price Target at $60.29

Fluor Co. (NYSE:FLR) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $60.29.

Several equities research analysts have weighed in on the stock. KeyCorp raised their target price on shares of Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial raised their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DA Davidson lifted their price objective 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. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Finally, UBS Group boosted their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Insider Activity

In related news, insider Mark E. Fields sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,261 shares of company stock valued at $4,360,074 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cim Investment Management Inc. acquired a new stake in shares of Fluor in the third quarter valued at about $391,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Fluor during the third quarter worth $96,000. Sanctuary Advisors LLC raised its position in shares of Fluor by 18.2% in the third quarter. Sanctuary Advisors LLC now owns 5,820 shares of the construction company’s stock valued at $278,000 after buying an additional 897 shares during the last quarter. Virtu Financial LLC acquired a new position in Fluor during the third quarter worth about $598,000. Finally, Neo Ivy Capital Management purchased a new stake in Fluor during the 3rd quarter valued at about $2,166,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Trading Down 0.1 %

Shares of NYSE:FLR opened at $55.97 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $9.60 billion, a PE ratio of 37.31, a P/E/G ratio of 4.27 and a beta of 1.89. Fluor has a 12-month low of $35.04 and a 12-month high of $60.10. The business’s fifty day simple moving average is $52.50 and its 200-day simple moving average is $48.22.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the firm earned $1.02 EPS. Fluor’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that Fluor will post 2.62 earnings per share for the current fiscal year.

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.