Truist Financial Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price cut by equities researchers at Truist Financial from $60.00 to $45.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price points to a potential upside of 40.32% from the company’s current price.

FLR has been the topic of several other reports. Citigroup dropped their target price on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. DA Davidson cut their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. 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, February 27th. Robert W. Baird decreased their price target on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.43.

Fluor Price Performance

Shares of NYSE:FLR traded up $0.52 on Tuesday, hitting $32.07. The company’s stock had a trading volume of 398,899 shares, compared to its average volume of 2,105,037. Fluor has a 1 year low of $29.20 and a 1 year high of $60.10. The company has a market capitalization of $5.39 billion, a PE ratio of 2.64, a PEG ratio of 1.36 and a beta of 1.66. The company has a 50-day simple moving average of $39.88 and a 200 day simple moving average of $47.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77.

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

Hedge Funds Weigh In On Fluor

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 213 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Fluor by 2.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock worth $533,000 after acquiring an additional 241 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Fluor by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 5,182 shares of the construction company’s stock worth $256,000 after purchasing an additional 264 shares in the last quarter. Coldstream Capital Management Inc. raised 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 valued at $286,000 after purchasing an additional 277 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Fluor by 43.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after purchasing an additional 287 shares during the last quarter. 88.07% of the stock is currently owned by 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.