Fluor (NYSE:FLR) Given New $66.00 Price Target at Truist Financial

Fluor (NYSE:FLR) had its price objective upped by Truist Financial from $62.00 to $66.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts have also weighed in on the company. DA Davidson increased their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group raised their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and upped their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. KeyCorp raised their price objective on shares of Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor presently has an average rating of “Moderate Buy” and an average target price of $60.86.

Fluor Trading Up 0.5 %

FLR stock opened at $50.34 on Thursday. The firm has a fifty day moving average price of $53.66 and a 200 day moving average price of $49.20. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The firm has a market cap of $8.63 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current 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 (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). The business had revenue of $4.09 billion for 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.02 earnings per share. Sell-side analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares in the company, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,607 shares of company stock worth $4,063,720. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Fluor by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after purchasing an additional 51,018 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after buying an additional 614,521 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after buying an additional 323,111 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Fluor by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock valued at $95,648,000 after acquiring an additional 9,789 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.