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

Fluor Co. (NYSE:FLR) has received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $54.00.

Several research firms recently commented on FLR. Citigroup raised their price target on shares of Fluor from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. DA Davidson raised their price objective on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. Robert W. Baird upped 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. UBS Group lifted their price target on shares of Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a report on Wednesday, July 17th.

Fluor Trading Up 0.6 %

Fluor stock opened at $46.18 on Tuesday. The stock has a 50-day moving average price of $47.61 and a 200 day moving average price of $43.47. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.91 and a beta of 1.91. Fluor has a 52 week low of $32.31 and a 52 week high of $51.64. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.17. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. Sell-side analysts anticipate that Fluor will post 2.9 EPS for the current year.

Insider Activity

In related news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the transaction, the chief accounting officer now directly owns 55,965 shares in the company, valued at $2,703,669.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLR. Rise Advisors LLC acquired a new position in shares of Fluor during the 1st quarter valued at about $28,000. ORG Partners LLC purchased a new stake in shares of Fluor in the 2nd quarter valued at approximately $34,000. GAMMA Investing LLC increased its holdings in shares of Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after buying an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after buying an additional 930 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Fluor in the second quarter worth approximately $51,000. Institutional investors and hedge funds 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.