Fluor (NYSE:FLR) Price Target Raised to $63.00 at UBS Group

Fluor (NYSE:FLR) had its price objective lifted by UBS Group from $51.00 to $63.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities research analysts have also recently weighed in on FLR. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $65.00 in a research note on Tuesday. Robert W. Baird raised their price objective on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research note on Wednesday, July 17th. DA Davidson increased their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Truist Financial boosted their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.29.

Fluor Price Performance

Shares of NYSE:FLR opened at $52.79 on Wednesday. Fluor has a 12 month low of $32.31 and a 12 month high of $55.86. The firm has a market capitalization of $9.04 billion, a P/E ratio of 30.69, a P/E/G ratio of 2.18 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The company’s fifty day moving average price is $48.69 and its 200 day moving average price is $45.33.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred 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 directly owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of institutional investors have recently added to or reduced their stakes in FLR. ORG Partners LLC acquired a new stake in shares of Fluor during the 2nd quarter valued at approximately $34,000. GAMMA Investing LLC increased its stake in Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after purchasing an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after purchasing an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Fluor during the second quarter worth $51,000. Finally, Quest Partners LLC purchased a new position in shares of Fluor in the second quarter valued at $52,000. Hedge funds and other 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.