Fluor (NYSE:FLR) Given New $55.00 Price Target at DA Davidson

Fluor (NYSE:FLR) had its price objective dropped by analysts at DA Davidson from $65.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s target price points to a potential upside of 40.36% from the company’s previous close.

FLR has been the subject of a number of other research reports. KeyCorp boosted their price target on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial reduced their target price on Fluor from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird dropped their price target on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, UBS Group boosted 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Fluor Price Performance

Shares of Fluor stock traded down $0.57 during trading on Wednesday, hitting $39.19. The stock had a trading volume of 1,717,743 shares, compared to its average volume of 3,072,293. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.06 and a beta of 1.89. The business’s 50-day moving average is $49.64 and its 200 day moving average is $50.22.

Fluor (NYSE:FLR) last released 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). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.42 billion. As a group, sell-side analysts anticipate that Fluor will post 2.62 earnings per share for the current year.

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of the 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 directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the business’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 transaction, the insider now owns 137,974 shares in the company, 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. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLR. Neo Ivy Capital Management lifted its holdings in Fluor by 45.2% in the fourth quarter. Neo Ivy Capital Management now owns 65,943 shares of the construction company’s stock worth $3,252,000 after buying an additional 20,541 shares during the period. State of Wyoming boosted its position in shares of Fluor by 165.6% during the fourth quarter. State of Wyoming now owns 5,068 shares of the construction company’s stock valued at $250,000 after purchasing an additional 3,160 shares in the last quarter. Tema Etfs LLC bought a new position in Fluor in the fourth quarter worth $5,317,000. Point72 Hong Kong Ltd lifted its position in Fluor by 15.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 43,248 shares of the construction company’s stock valued at $2,133,000 after buying an additional 5,849 shares during the period. Finally, Potrero Capital Research LLC bought a new stake in shares of Fluor during the 4th quarter valued at $14,115,000. 88.07% of the stock is 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.