Fluor (NYSE:FLR) Price Target Lowered to $65.00 at Truist Financial

Fluor (NYSE:FLR) had its price target cut by stock analysts at Truist Financial from $66.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price points to a potential upside of 32.06% from the company’s previous close.

Several other research firms also recently commented on FLR. KeyCorp upped their price target on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. DA Davidson upped their price target on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Robert W. Baird restated a “neutral” rating and issued a $58.00 target price (up previously from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. Finally, UBS Group raised their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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, Fluor presently has a consensus rating of “Moderate Buy” and an average price target of $60.14.

Fluor Stock Down 0.1 %

NYSE FLR traded down $0.06 on Thursday, hitting $49.22. 60,942 shares of the stock were exchanged, compared to its average volume of 1,797,982. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The company has a market cap of $8.44 billion, a PE ratio of 32.81, a PEG ratio of 3.39 and a beta of 1.91. The company has a 50-day moving average price of $52.34 and a 200-day moving average price of $49.91.

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

Insider Activity at Fluor

In related news, insider Thomas P. D’agostino sold 7,681 shares of the firm’s 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now owns 147,045 shares of the company’s stock, 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. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in Fluor by 2,509.5% during the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after buying an additional 527 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Fluor during the second quarter worth $52,000. Quarry LP lifted its position in shares of Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Fluor during the third quarter worth $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Fluor during the third quarter worth $96,000. 88.07% of the stock is currently owned by hedge funds and other 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.