Brokerages Set Fluor Corporation (NYSE:FLR) Price Target at $54.33

Shares of Fluor Corporation (NYSE:FLR) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.3333.

Several brokerages have recently weighed in on FLR. UBS Group reiterated a “buy” rating and set a $57.00 target price on shares of Fluor in a research report on Thursday, February 19th. Truist Financial raised their price target on shares of Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Zacks Research raised Fluor from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 19th. Robert W. Baird increased their target price on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Finally, DA Davidson raised their target price on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th.

Fluor Stock Performance

Shares of NYSE FLR opened at $46.95 on Friday. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -60.19, a PEG ratio of 1.12 and a beta of 1.35. Fluor has a one year low of $29.20 and a one year high of $57.50. The business has a fifty day simple moving average of $46.88 and a 200 day simple moving average of $44.81. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Fluor will post 2.5 EPS for the current year.

Insider Activity at Fluor

In related news, insider Anthony Morgan sold 3,387 shares of Fluor 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 completion of the transaction, the insider directly owned 45,999 shares of the company’s stock, valued at $2,442,086.91. This trade represents a 6.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin B. Hammonds sold 2,988 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $52.61, for a total transaction of $157,198.68. Following the completion of the transaction, the insider owned 16,273 shares in the company, valued at approximately $856,122.53. This trade represents a 15.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,110 shares of company stock valued at $1,168,920. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its position in Fluor by 40.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock worth $361,000 after acquiring an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Fluor by 337.7% in the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock worth $587,000 after purchasing an additional 12,645 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Fluor during the first quarter worth $266,000. Acadian Asset Management LLC acquired a new stake in shares of Fluor in the first quarter valued at $54,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Fluor by 3.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,307 shares of the construction company’s stock valued at $2,169,000 after buying an additional 1,308 shares in the last quarter. 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.