Fluor (NYSE:FLR) Shares Up 3.8% – Still a Buy?

Fluor Co. (NYSE:FLR)’s stock price was up 3.8% on Friday . The company traded as high as $52.88 and last traded at $52.75. Approximately 352,158 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,681,200 shares. The stock had previously closed at $50.80.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLR. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. DA Davidson boosted their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group increased their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial boosted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Robert W. Baird boosted their price target on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.29.

Fluor Stock Up 2.2 %

The company has a market cap of $8.91 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 3.93 and a beta of 1.90. The firm’s 50 day moving average price is $50.14 and its two-hundred day moving average price is $46.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77.

Fluor (NYSE:FLR) last announced its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.02 EPS. Equities research analysts anticipate that Fluor Co. will post 2.62 EPS for the current fiscal year.

Insider Transactions at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This represents a 21.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 31,261 shares of company stock worth $1,528,574. 1.70% of the stock is owned by company insiders.

Institutional Trading of Fluor

Several institutional investors and hedge funds have recently made changes to their positions in FLR. ORG Partners LLC bought a new stake in shares of Fluor in the 2nd quarter valued at about $34,000. GAMMA Investing LLC lifted its position in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Fluor in the second quarter worth $51,000. Finally, Quest Partners LLC purchased a new stake in Fluor during the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.