Fluor (NYSE:FLR) Rating Lowered to Hold at Baird R W

Fluor (NYSE:FLR) was downgraded by Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

FLR has been the topic of several other reports. Truist Financial upped their target price on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. KeyCorp lifted their target price on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group increased their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, DA Davidson raised their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fluor has a consensus rating of “Moderate Buy” and an average price target of $60.86.

Fluor Price Performance

NYSE:FLR traded up $0.91 on Wednesday, reaching $51.02. 30,408 shares of the company’s stock traded hands, compared to its average volume of 1,722,219. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10. The stock has a 50-day simple moving average of $53.67 and a 200-day simple moving average of $49.15. The firm has a market cap of $8.75 billion, a PE ratio of 34.01, a P/E/G ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) 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 the consensus estimate of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 earnings per share. Equities research analysts forecast that Fluor will post 2.62 earnings per share for the current year.

Insider Activity

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction of $2,831,500.00. Following the transaction, the insider now directly owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,942 shares of company stock valued at $4,793,206 over the last ninety days. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Fluor

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in shares of Fluor by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 10,477 shares of the construction company’s stock worth $456,000 after acquiring an additional 429 shares during the last quarter. New York State Teachers Retirement System lifted its position in Fluor by 2.0% during the second quarter. New York State Teachers Retirement System now owns 174,331 shares of the construction company’s stock worth $7,592,000 after buying an additional 3,461 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new stake in Fluor in the 2nd quarter valued at $2,315,000. Allspring Global Investments Holdings LLC raised its stake in Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Fluor by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,505 shares of the construction company’s stock worth $1,285,000 after acquiring an additional 2,753 shares during the last quarter. 88.07% of the stock is currently 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.