UBS Group Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price decreased by UBS Group from $57.00 to $49.00 in a report issued on Thursday,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

FLR has been the subject of a number of other research reports. Truist Financial decreased their price target on Fluor from $60.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. StockNews.com raised shares of Fluor from a “hold” rating to a “buy” rating in a report on Thursday, April 17th. Robert W. Baird cut their price objective on shares of Fluor from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. KeyCorp decreased their price objective on shares of Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Finally, DA Davidson dropped their target price on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Fluor presently has an average rating of “Moderate Buy” and an average price target of $45.57.

Fluor Price Performance

Fluor stock opened at $35.54 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $5.97 billion, a P/E ratio of 2.92, a PEG ratio of 1.36 and a beta of 1.66. The firm has a fifty day moving average of $35.72 and a 200-day moving average of $46.02. Fluor has a 52-week low of $29.20 and a 52-week high of $60.10.

Fluor (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.42 billion. As a group, analysts predict that Fluor will post 2.5 EPS for the current year.

Institutional Trading of Fluor

Several hedge funds and other institutional investors have recently bought and sold shares of FLR. New York State Teachers Retirement System grew its position in shares of Fluor by 10.7% in the 1st quarter. New York State Teachers Retirement System now owns 192,218 shares of the construction company’s stock worth $6,885,000 after acquiring an additional 18,603 shares in the last quarter. Highland Capital Management LLC lifted its stake in Fluor by 25.6% during the first quarter. Highland Capital Management LLC now owns 5,842 shares of the construction company’s stock worth $209,000 after purchasing an additional 1,189 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in Fluor in the first quarter worth $1,474,000. Diversified Trust Co increased its stake in Fluor by 4.0% during the first quarter. Diversified Trust Co now owns 40,642 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Fluor by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company’s stock worth $49,000 after purchasing an additional 701 shares during the period. 88.07% of the stock is owned by institutional investors.

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.