Fluor (NYSE:FLR) Given New $54.00 Price Target at Truist Financial

Fluor (NYSE:FLR) had its price objective raised by Truist Financial from $47.00 to $54.00 in a report released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other brokerages have also commented on FLR. Robert W. Baird raised their price objective on shares of Fluor from $42.00 to $46.00 and gave the stock an outperform rating in a report on Monday, May 6th. Citigroup lifted their price target on shares of Fluor from $45.00 to $47.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $45.17.

Fluor Trading Down 0.1 %

Shares of NYSE:FLR opened at $43.19 on Tuesday. Fluor has a 12 month low of $28.02 and a 12 month high of $45.75. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. The company’s fifty day simple moving average is $41.94 and its 200 day simple moving average is $40.08. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.37 and a beta of 1.99.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Fluor had a return on equity of 24.98% and a net margin of 1.97%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, research analysts forecast that Fluor will post 2.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of 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. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fluor by 0.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock valued at $2,739,000 after acquiring an additional 286 shares during the period. Lesa Sroufe & Co grew its position in shares of Fluor by 0.6% in the 1st quarter. Lesa Sroufe & Co now owns 50,950 shares of the construction company’s stock valued at $2,154,000 after acquiring an additional 312 shares during the period. Cornercap Investment Counsel Inc. grew its position in shares of Fluor by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 14,039 shares of the construction company’s stock valued at $550,000 after acquiring an additional 326 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Fluor by 19.6% during the 4th quarter. Parallel Advisors LLC now owns 2,053 shares of the construction company’s stock worth $80,000 after buying an additional 337 shares during the period. Institutional investors own 88.07% of the company’s stock.

About Fluor

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.