Fluor Co. (NYSE:FLR) Given Average Recommendation of “Moderate Buy” by Brokerages

Fluor Co. (NYSE:FLR) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $58.29.

Several research analysts have weighed in on FLR shares. DA Davidson lifted their target price on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Truist Financial boosted their price objective on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird increased their target price on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective for the company in a research report on Wednesday, July 17th.

Fluor Stock Up 3.4 %

Shares of NYSE FLR opened at $54.61 on Wednesday. The firm has a 50 day moving average price of $49.31 and a 200 day moving average price of $46.03. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $9.35 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.29 and a beta of 1.90. Fluor has a 52-week low of $34.09 and a 52-week high of $55.86.

Insiders Place Their Bets

In related news, CAO John C. Regan sold 13,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at $2,751,163.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,261 shares of company stock valued at $2,156,604 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC bought a new stake in shares of Fluor in the second quarter valued at about $47,559,000. Rubric Capital Management LP boosted its holdings in Fluor by 23.6% in the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after purchasing an additional 614,521 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after purchasing an additional 323,111 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Fluor by 2,441.9% during the second quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock worth $12,310,000 after purchasing an additional 271,535 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Fluor by 42.1% in the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after buying an additional 254,904 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

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.