Brokerages Set Fluor Corporation (NYSE:FLR) Price Target at $53.33

Fluor Corporation (NYSE:FLR) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $54.50.

Several research firms have weighed in on FLR. Zacks Research downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Truist Financial lifted their target price on Fluor from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup dropped their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Robert W. Baird raised their price target on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of Fluor by 40.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after purchasing an additional 2,896 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Fluor by 337.7% during the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock worth $587,000 after buying an additional 12,645 shares during the period. Caxton Associates LLP purchased a new position in shares of Fluor during the 1st quarter valued at approximately $266,000. Acadian Asset Management LLC purchased a new stake in Fluor in the 1st quarter worth $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

Fluor Trading Down 0.1%

Shares of Fluor stock opened at $49.38 on Monday. The firm’s 50 day simple moving average is $49.07 and its two-hundred day simple moving average is $47.07. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 1.57 and a beta of 1.23. Fluor has a 12-month low of $37.62 and a 12-month high of $57.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Analysts predict that Fluor will post 2.63 EPS for the current year.

About Fluor

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.