Fluor (NYSE:FLR) Given New $60.00 Price Target at Truist Financial

Fluor (NYSE:FLR) had its target price reduced by Truist Financial from $65.00 to $60.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other analysts have also weighed in on the company. Citigroup lowered their price objective on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. DA Davidson dropped their price objective on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Robert W. Baird lowered their target price on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, UBS Group increased their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.43.

Fluor Price Performance

Shares of NYSE FLR opened at $39.58 on Wednesday. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.06 and a beta of 1.89. Fluor has a 1-year low of $35.04 and a 1-year high of $60.10. The business has a 50-day moving average of $49.31 and a 200-day moving average of $50.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. On average, equities analysts anticipate that Fluor will post 2.62 EPS for the current fiscal year.

Insider Activity at Fluor

In other news, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluor

Hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock worth $235,000 after buying an additional 176 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Fluor by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock valued at $112,000 after acquiring an additional 213 shares during the period. Seelaus Asset Management LLC increased its stake in shares of Fluor by 3.7% in the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock worth $307,000 after purchasing an additional 230 shares during the period. Nisa Investment Advisors LLC increased its position in Fluor by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock worth $533,000 after buying an additional 241 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in Fluor by 4.9% during the third quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock worth $286,000 after acquiring an additional 277 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.