Fluor (NYSE:FLR) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Fluor (NYSE:FLR) from a hold rating to a buy rating in a research note published on Saturday morning.

Other analysts have also issued research reports about the company. Robert W. Baird reduced their target price on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup reduced their target price 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 reduced their target price on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. KeyCorp upped 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. Finally, Barclays set a $40.00 price target on shares of Fluor and gave the stock an “equal weight” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.71.

Fluor Price Performance

Shares of NYSE:FLR opened at $38.00 on Friday. Fluor has a one year low of $36.00 and a one year high of $60.10. The stock has a fifty day moving average of $47.23 and a 200-day moving average of $49.66. The company has a market capitalization of $6.41 billion, a PE ratio of 3.12, a price-to-earnings-growth ratio of 1.36 and a beta of 1.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, equities analysts anticipate that Fluor will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several hedge funds have recently bought and sold shares of FLR. Versant Capital Management Inc increased 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 worth $27,000 after buying an additional 527 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock valued at $30,000 after acquiring an additional 408 shares during the period. Golden State Wealth Management LLC bought a new stake in Fluor during the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC boosted its holdings in Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock valued at $47,000 after acquiring an additional 287 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Fluor during the fourth quarter valued at about $57,000. 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.