Fluor Co. (NYSE:FLR) Receives $60.14 Average Target Price from Brokerages

Fluor Co. (NYSE:FLR) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $60.14.

A number of equities research analysts have weighed in on FLR shares. Robert W. Baird reiterated a “neutral” rating and set a $58.00 target price (up from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. KeyCorp increased their price target on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Truist Financial cut their price objective on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. DA Davidson raised their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd.

Fluor Price Performance

FLR stock opened at $54.58 on Monday. 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 has a 50 day moving average price of $52.46 and a 200-day moving average price of $50.37. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 3.83 and a beta of 1.91.

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

Insider Activity

In other news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the sale, the insider now directly owns 137,974 shares in the company, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLR. Versant Capital Management Inc lifted its stake in shares of Fluor by 2,509.5% in the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after purchasing an additional 527 shares during the last quarter. Quarry LP grew its holdings in shares of Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Fluor in the 3rd quarter worth about $96,000. Wilmington Savings Fund Society FSB bought a new stake in Fluor during the 3rd quarter valued at about $96,000. Finally, GAMMA Investing LLC boosted its position in Fluor by 130.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the construction company’s stock valued at $99,000 after buying an additional 1,169 shares during the period. Institutional investors own 88.07% of the company’s stock.

About Fluor

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.