Truist Financial Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price upped by Truist Financial from $62.00 to $66.00 in a research report released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other analysts have also commented on the company. KeyCorp lifted their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Baird R W downgraded shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday. DA Davidson boosted their target price on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, Robert W. Baird restated a “neutral” rating and issued a $58.00 price objective (up from $54.00) on shares of Fluor in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Fluor presently has an average rating of “Moderate Buy” and a consensus price target of $60.86.

Fluor Price Performance

Shares of NYSE FLR opened at $50.08 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s 50-day simple moving average is $53.67 and its 200 day simple moving average is $49.15. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 4.36 and a beta of 1.89. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The company had revenue of $4.09 billion during 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 company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, research analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the transaction, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 21.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,607 shares of company stock worth $4,063,720. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in Fluor by 4.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,477 shares of the construction company’s stock valued at $456,000 after buying an additional 429 shares during the last quarter. New York State Teachers Retirement System raised its position in Fluor by 2.0% during the 2nd quarter. New York State Teachers Retirement System now owns 174,331 shares of the construction company’s stock valued at $7,592,000 after purchasing an additional 3,461 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new stake in Fluor in the 2nd quarter worth approximately $2,315,000. Allspring Global Investments Holdings LLC increased its stake in shares of Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after buying an additional 930 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Fluor by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,505 shares of the construction company’s stock valued at $1,285,000 after acquiring an additional 2,753 shares in the last quarter. 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.