Fluor Corporation (NYSE:FLR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Fluor Corporation (NYSE:FLR) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $54.3333.

FLR has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Zacks Research raised Fluor from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. DA Davidson upped their price objective on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Truist Financial upped their price objective on Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, February 19th.

Fluor Price Performance

Fluor stock opened at $48.55 on Wednesday. Fluor has a 12 month low of $32.44 and a 12 month high of $57.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. The business has a 50 day simple moving average of $47.77 and a 200-day simple moving average of $45.55. The stock has a market capitalization of $6.95 billion, a PE ratio of -62.24, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same quarter last year, the company earned $0.48 EPS. Fluor’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that Fluor will post 2.5 earnings per share for the current year.

Insider Activity

In related news, insider Anthony Morgan sold 3,387 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.09, for a total transaction of $179,815.83. Following the sale, the insider owned 45,999 shares of the company’s stock, valued at approximately $2,442,086.91. The trade was a 6.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tracey H. Cook sold 2,589 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $53.22, for a total transaction of $137,786.58. Following the sale, the insider directly owned 10,731 shares in the company, valued at approximately $571,103.82. This represents a 19.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,110 shares of company stock valued at $1,168,920 in the last quarter. Insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of institutional investors have recently bought and sold shares of the company. Starboard Value LP purchased a new stake in Fluor during the fourth quarter worth $205,732,000. AQR Capital Management LLC boosted its position in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fluor by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock worth $178,962,000 after purchasing an additional 377,985 shares in the last quarter. Rubric Capital Management LP boosted its position in Fluor by 12.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Morgan Stanley boosted its position in Fluor by 0.6% during the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after purchasing an additional 20,210 shares in the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.