Brokerages Set Fluor Co. (NYSE:FLR) Target Price at $59.29

Fluor Co. (NYSE:FLRGet Free Report) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $55.43.

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Fluor from a “hold” rating to a “buy” rating in a report on Thursday. KeyCorp boosted their price objective on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird dropped their target price on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Citigroup reduced their price target on shares of Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th.

Check Out Our Latest Research Report on FLR

Insider Transactions at Fluor

In other news, insider Thomas P. D’agostino sold 7,681 shares of Fluor 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 completion of the sale, the insider now directly owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the transaction, the insider now owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Several hedge funds and other institutional investors have recently made changes to their positions in FLR. Cornerstone Wealth Management LLC purchased a new position in Fluor in the fourth quarter valued at approximately $484,000. Exchange Traded Concepts LLC boosted its holdings in shares of Fluor by 291.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after buying an additional 32,472 shares in the last quarter. Aequim Alternative Investments LP grew its position in shares of Fluor by 6.0% in the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after buying an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Fluor by 139.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after acquiring an additional 9,992 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Fluor by 27.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after acquiring an additional 457,220 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Stock Performance

Shares of Fluor stock opened at $39.78 on Friday. The firm has a market cap of $6.82 billion, a PE ratio of 3.26, a price-to-earnings-growth ratio of 3.25 and a beta of 1.89. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The business’s fifty day simple moving average is $49.00 and its 200-day simple moving average is $50.07.

Fluor (NYSE:FLRGet Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.42 billion. Fluor had a return on equity of 18.20% and a net margin of 13.14%. Equities analysts forecast that Fluor will post 2.5 earnings per share for the current year.

About Fluor

(Get Free Report

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.

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