Robert W. Baird Lowers Fluor (NYSE:FLR) Price Target to $46.00

Fluor (NYSE:FLR) had its price objective lowered by Robert W. Baird from $58.00 to $46.00 in a research note published on Wednesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the construction company’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group raised their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. DA Davidson raised their price target on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Citigroup decreased their target price on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Truist Financial reduced their price objective on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Fluor presently has an average rating of “Moderate Buy” and an average price target of $55.43.

Fluor Price Performance

FLR stock opened at $37.73 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The firm has a market capitalization of $6.37 billion, a P/E ratio of 3.10, a P/E/G ratio of 3.23 and a beta of 1.89. The business’s 50-day moving average is $48.66 and its two-hundred day moving average is $50.01. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10.

Fluor (NYSE:FLR) last issued its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Analysts anticipate that Fluor will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 50,000 shares of the business’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 transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now 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. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FLR. Alyeska Investment Group L.P. increased its holdings in shares of Fluor by 329.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock valued at $97,954,000 after purchasing an additional 1,523,647 shares during the period. Balyasny Asset Management L.P. increased its stake in Fluor by 10,125.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock valued at $52,129,000 after buying an additional 1,046,610 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Fluor during the third quarter worth about $39,289,000. Hood River Capital Management LLC increased its stake in shares of Fluor by 58.4% during the fourth quarter. Hood River Capital Management LLC now owns 1,952,254 shares of the construction company’s stock worth $96,285,000 after acquiring an additional 719,583 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in shares of Fluor during the fourth quarter worth about $26,353,000. Institutional investors and hedge funds 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.