Truist Financial Forecasts Strong Price Appreciation for Fluor (NYSE:FLR) Stock

Fluor (NYSE:FLR) had its target price boosted by analysts at Truist Financial from $62.00 to $66.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Truist Financial’s price objective would suggest a potential upside of 31.11% from the company’s current price.

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

Fluor Stock Performance

NYSE FLR opened at $50.34 on Thursday. The company has a fifty day moving average of $53.67 and a two-hundred day moving average of $49.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10. The company has a market capitalization of $8.63 billion, a PE ratio of 33.56, a P/E/G ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. As a group, analysts expect that Fluor will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,607 shares of company stock worth $4,063,720. 1.70% of the stock is owned by company insiders.

Institutional Trading of Fluor

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in Fluor by 42.1% in the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after buying an additional 254,904 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Fluor in the third quarter worth $215,000. Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of Fluor in the third quarter valued at $202,000. Cim Investment Management Inc. acquired a new stake in shares of Fluor during the third quarter valued at $391,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Fluor during the 3rd quarter worth about $96,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.