Truist Financial Reaffirms Buy Rating for Fluor (NYSE:FLR)

Truist Financial reaffirmed their buy rating on shares of Fluor (NYSE:FLR) in a research report report published on Monday morning, Benzinga reports. They currently have a $47.00 target price on the construction company’s stock, up from their previous target price of $46.00.

Other equities analysts have also issued research reports about the stock. Robert W. Baird boosted their price target on shares of Fluor from $42.00 to $46.00 and gave the company an outperform rating in a report on Monday. Citigroup increased their price target on Fluor from $45.00 to $47.00 and gave the stock a neutral rating in a report on Monday, April 22nd. TheStreet lowered Fluor from a b- rating to a c rating in a research report on Wednesday, February 21st. Finally, KeyCorp assumed coverage on shares of Fluor in a report on Wednesday, January 10th. They set a sector weight rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluor presently has a consensus rating of Hold and a consensus price target of $44.00.

Fluor Stock Down 0.5 %

NYSE:FLR opened at $38.33 on Monday. The stock’s fifty day simple moving average is $39.89 and its 200-day simple moving average is $38.47. The firm has a market capitalization of $6.52 billion, a P/E ratio of 22.28, a P/E/G ratio of 3.08 and a beta of 2.11. The company has a quick ratio of 1.60, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. Fluor has a 12-month low of $25.69 and a 12-month high of $43.24.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). Fluor had a net margin of 1.97% and a return on equity of 24.98%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that Fluor will post 2.84 earnings per share for the current year.

Institutional Investors Weigh In On Fluor

Several institutional investors have recently bought and sold shares of FLR. Wellington Management Group LLP lifted its position in shares of Fluor by 1.4% in the third quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock worth $653,546,000 after purchasing an additional 243,371 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Fluor by 18.6% during the 4th quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after buying an additional 2,670,473 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Fluor by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,975,324 shares of the construction company’s stock valued at $72,494,000 after acquiring an additional 220,962 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fluor by 13.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,480,056 shares of the construction company’s stock valued at $57,974,000 after acquiring an additional 177,907 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in Fluor by 18.0% during the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock worth $34,276,000 after acquiring an additional 123,500 shares in the last quarter. 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.