Fluor (NYSE:FLR) Given New $55.00 Price Target at DA Davidson

Fluor (NYSE:FLR) had its price target lowered by DA Davidson from $65.00 to $55.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other research analysts have also recently issued reports on the stock. Citigroup lowered their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial decreased their price target on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. KeyCorp increased their price target on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird decreased their price target on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.43.

Fluor Trading Down 0.4 %

Shares of Fluor stock opened at $39.58 on Wednesday. The company has a fifty day simple moving average of $49.31 and a 200-day simple moving average of $50.14. Fluor has a 12-month low of $35.04 and a 12-month high of $60.10. 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 stock has a market cap of $6.79 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.06 and a beta of 1.89.

Fluor (NYSE:FLR) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. On average, equities analysts forecast that Fluor will post 2.62 EPS for the current fiscal year.

Insider Transactions at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the 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 completion of the transaction, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its holdings in shares of Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock valued at $235,000 after purchasing an additional 176 shares in the last quarter. GAMMA Investing LLC increased its holdings in Fluor by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock valued at $112,000 after acquiring an additional 213 shares in the last quarter. Seelaus Asset Management LLC increased its holdings in Fluor by 3.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after acquiring an additional 230 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after acquiring an additional 241 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Fluor by 4.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after acquiring an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.