Fluor (NYSE:FLR) Price Target Raised to $65.00

Fluor (NYSE:FLR) had its price objective raised by Robert W. Baird from $49.00 to $65.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Several other brokerages have also issued reports on FLR. Truist Financial raised their price target on shares of Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Barclays upped their price target on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a research report on Friday, August 7th. Citigroup lifted their target price on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research report on Monday. Finally, Zacks Research cut Fluor from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.33.

Fluor Trading Down 1.9%

FLR opened at $51.93 on Monday. The firm has a market capitalization of $6.95 billion, a PE ratio of -4.23, a P/E/G ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.78. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $57.93. The company’s 50-day moving average is $51.01 and its 200 day moving average is $48.70.

Fluor (NYSE:FLR) last announced its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Fluor’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that Fluor will post 2.66 earnings per share for the current fiscal year.

Insider Activity at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of Fluor stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluor

A number of hedge funds and other institutional investors have recently bought and sold shares of FLR. Global Retirement Partners LLC purchased a new stake in shares of Fluor in the 2nd quarter worth approximately $25,000. Assetmark Inc. raised its holdings in shares of Fluor by 249.0% during the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after purchasing an additional 483 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Fluor during the 4th quarter valued at $27,000. Larson Financial Group LLC lifted its holdings in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock valued at $31,000 after acquiring an additional 734 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Fluor in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.