Fluor (NYSE:FLR) Downgraded to “Hold” Rating by StockNews.com

Fluor (NYSE:FLR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other equities research analysts also recently issued research reports about the company. KeyCorp upped their price target on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Citigroup lowered their target price on shares of Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Robert W. Baird reduced their price objective on shares of Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Finally, DA Davidson dropped their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Fluor has an average rating of “Moderate Buy” and an average target price of $54.71.

Fluor Stock Performance

FLR opened at $36.16 on Friday. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 2.97, a PEG ratio of 1.36 and a beta of 1.73. The company’s fifty day moving average price is $45.83 and its two-hundred day moving average price is $49.24. Fluor has a 1-year low of $35.10 and a 1-year high of $60.10. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR) last announced its quarterly 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). The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. On average, analysts expect that Fluor will post 2.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLR. Cornerstone Wealth Management LLC bought a new stake in shares of Fluor in the 4th quarter worth approximately $484,000. Exchange Traded Concepts LLC raised its stake in shares of Fluor by 291.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after buying an additional 32,472 shares during the period. Aequim Alternative Investments LP lifted its position in shares of Fluor by 6.0% during the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after buying an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Fluor by 139.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after acquiring an additional 9,992 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares during the last quarter. 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.