Fluor (NYSE:FLR) Rating Lowered to “Hold” at Baird R W

Fluor (NYSE:FLR) was downgraded by equities research analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. KeyCorp boosted their price target on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 target price (up from $54.00) on shares of Fluor in a report on Wednesday. Truist Financial increased their price objective on shares of Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and upped their price target for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, DA Davidson raised their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.86.

Fluor Price Performance

FLR stock opened at $50.08 on Wednesday. Fluor has a one year low of $35.04 and a one year high of $60.10. The firm has a 50-day moving average of $53.67 and a two-hundred day moving average of $49.15. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $8.59 billion, a PE ratio of 33.39, a P/E/G ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share 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 during the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company posted $1.02 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Fluor will post 2.62 earnings per share for the current year.

Insider Activity at Fluor

In other news, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of Fluor stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 21.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,607 shares of company stock worth $4,063,720. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLR. Nisa Investment Advisors LLC increased its holdings in shares of Fluor by 4.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,477 shares of the construction company’s stock worth $456,000 after buying an additional 429 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Fluor by 2.0% in the 2nd quarter. New York State Teachers Retirement System now owns 174,331 shares of the construction company’s stock worth $7,592,000 after purchasing an additional 3,461 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in shares of Fluor during the 2nd quarter valued at about $2,315,000. Allspring Global Investments Holdings LLC lifted its position in Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after buying an additional 930 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fluor by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,505 shares of the construction company’s stock worth $1,285,000 after buying an additional 2,753 shares in the last quarter. 88.07% of the stock is 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.