KeyCorp Increases Fluor (NYSE:FLR) Price Target to $60.00

Fluor (NYSE:FLR) had its price target raised by equities researchers at KeyCorp from $59.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price objective would suggest a potential upside of 21.78% from the stock’s previous close.

Several other analysts also recently issued reports on the company. UBS Group upped their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 price target (up from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Truist Financial lifted their target price on shares of Fluor from $62.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, DA Davidson increased their price target on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.29.

Fluor Stock Down 2.5 %

FLR opened at $49.27 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 4.27 and a beta of 1.91. Fluor has a one year low of $35.04 and a one year high of $60.10. The business’s fifty day moving average is $52.83 and its two-hundred day moving average is $49.73.

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

Insider Buying and Selling at Fluor

In related news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was 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 of the company’s stock, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Fluor by 1.7% in the second quarter. Arizona State Retirement System now owns 47,639 shares of the construction company’s stock valued at $2,075,000 after acquiring an additional 816 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Fluor during the 2nd quarter worth approximately $52,000. Ashton Thomas Private Wealth LLC bought a new position in Fluor during the 2nd quarter worth $51,000. Choreo LLC acquired a new stake in Fluor in the second quarter worth $250,000. Finally, United Services Automobile Association lifted its stake in Fluor by 7.2% in the second quarter. United Services Automobile Association now owns 13,546 shares of the construction company’s stock valued at $590,000 after buying an additional 904 shares during 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.