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

Fluor Co. (NYSE:FLR) has received an average rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $60.29.

FLR has been the topic of several recent analyst reports. Truist Financial raised their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Robert W. Baird increased their price objective on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. UBS Group raised their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

Fluor Stock Performance

Shares of FLR opened at $56.13 on Friday. The stock’s 50-day simple moving average is $51.96 and its 200 day simple moving average is $47.80. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 4.32 and a beta of 1.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10.

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

Insiders Place Their Bets

In related news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction on 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 completion of the sale, the insider now owns 147,045 shares of the company’s stock, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 21.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,261 shares of company stock valued at $4,360,074. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several large investors have recently made changes to their positions in FLR. Cim Investment Management Inc. purchased a new stake in shares of Fluor in the third quarter worth about $391,000. Wilmington Savings Fund Society FSB bought a new position in Fluor in the third quarter worth approximately $96,000. Sanctuary Advisors LLC grew its stake in Fluor by 18.2% in the third quarter. Sanctuary Advisors LLC now owns 5,820 shares of the construction company’s stock worth $278,000 after purchasing an additional 897 shares in the last quarter. Virtu Financial LLC bought a new position in Fluor in the third quarter worth approximately $598,000. Finally, Neo Ivy Capital Management bought a new position in Fluor in the third quarter worth approximately $2,166,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.