Fluor (NYSE:FLR) Stock Price Up 3.8% – Time to Buy?

Fluor Co. (NYSE:FLR)’s stock price was up 3.8% during mid-day trading on Friday . The company traded as high as $52.88 and last traded at $52.75. Approximately 352,158 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,681,200 shares. The stock had previously closed at $50.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FLR shares. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson upped their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Barclays increased their target price on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.29.

Fluor Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 3.93 and a beta of 1.90. The business’s fifty day moving average price is $49.98 and its 200-day moving average price is $46.65.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts forecast that Fluor Co. will post 2.62 EPS for the current year.

Insider Activity

In related news, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 31,261 shares of company stock worth $1,528,574 over the last quarter. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Hedge funds have recently made changes to their positions in the business. ORG Partners LLC bought a new stake in Fluor in the second quarter worth about $34,000. GAMMA Investing LLC raised its stake in Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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. Ashton Thomas Private Wealth LLC bought a new stake in shares of Fluor in the second quarter valued at approximately $51,000. Finally, Quest Partners LLC bought a new stake in Fluor during the 2nd quarter valued at $52,000. 88.07% of the stock is currently owned by 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.