Brokerages Set Fluor Corporation (NYSE:FLR) PT at $63.33

Shares of Fluor Corporation (NYSE:FLR) have earned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $63.3333.

A number of equities analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Wall Street Zen raised shares of Fluor from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Robert W. Baird increased their target price on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. UBS Group raised their target price on shares of Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Barclays boosted their price target on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 10th.

Fluor Stock Performance

Shares of NYSE:FLR opened at $52.28 on Tuesday. The firm’s 50 day simple moving average is $51.51 and its 200-day simple moving average is $49.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. Fluor has a one year low of $39.33 and a one year high of $57.93. The firm has a market cap of $6.99 billion, a PE ratio of -4.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25.

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

Insider Buying and Selling

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 36,064 shares in the company, valued at $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new position in Fluor in the second quarter valued at about $25,000. Assetmark Inc. lifted its position 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 buying an additional 483 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Fluor in the 4th quarter valued at about $27,000. Ancora Advisors LLC purchased a new position in shares of Fluor in the 2nd quarter worth approximately $31,000. Finally, Larson Financial Group LLC raised its stake in shares of Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

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.