Fluor (NYSE:FLR) Sets New 12-Month Low Following Analyst Downgrade

Fluor Co. (NYSE:FLR)’s share price hit a new 52-week low during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $46.00 to $43.00. Robert W. Baird currently has a neutral rating on the stock. Fluor traded as low as $33.85 and last traded at $34.42, with a volume of 807035 shares changing hands. The stock had previously closed at $37.22.

FLR has been the subject of a number of other research reports. Barclays set a $40.00 price objective on shares of Fluor and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Citigroup lowered their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. KeyCorp lifted their price objective on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.29.

Hedge Funds Weigh In On Fluor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Fluor by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after purchasing an additional 213 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock worth $533,000 after buying an additional 241 shares in the last quarter. CIBC Asset Management Inc boosted its position in Fluor by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock valued at $256,000 after purchasing an additional 264 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Fluor by 4.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after buying an additional 277 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after acquiring an additional 287 shares during the period. 88.07% of the stock is owned by institutional investors.

Fluor Trading Down 7.5 %

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 stock has a market cap of $5.78 billion, a price-to-earnings ratio of 2.82, a P/E/G ratio of 1.36 and a beta of 1.73. The business has a 50-day simple moving average of $41.08 and a two-hundred day simple moving average of $47.91.

Fluor (NYSE:FLR) last released its quarterly 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 company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Equities analysts forecast that Fluor Co. will post 2.5 EPS 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.