Truist Financial Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price hoisted by Truist Financial from $47.00 to $59.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Other analysts have also recently issued research reports about the company. KeyCorp cut their target price on Fluor from $54.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. UBS Group reiterated a “buy” rating and set a $60.00 target price (up previously from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Robert W. Baird set a $41.00 target price on Fluor in a research report on Monday, May 5th. Wall Street Zen cut Fluor from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Citigroup dropped their price target on Fluor from $55.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.86.

Fluor Price Performance

FLR stock opened at $52.72 on Thursday. The business has a fifty day moving average of $42.89 and a two-hundred day moving average of $42.46. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 5.05, a price-to-earnings-growth ratio of 2.47 and a beta of 1.34. 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 results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that Fluor will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alvin C. Collins III sold 18,920 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the completion of the sale, the insider directly owned 64,383 shares in the company, valued at $2,924,919.69. This represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman David E. Constable sold 40,800 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman owned 870,627 shares of the company’s stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Institutional investors and hedge funds have recently made changes to their positions in the company. Hurley Capital LLC acquired a new stake in shares of Fluor during the 1st quarter worth $29,000. Sterling Capital Management LLC increased its holdings in Fluor by 196.2% in the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock valued at $30,000 after purchasing an additional 408 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Fluor by 800.0% in the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company’s stock valued at $32,000 after purchasing an additional 800 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Fluor by 222.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company’s stock valued at $39,000 after purchasing an additional 760 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Fluor by 121.5% in the 1st quarter. Versant Capital Management Inc now owns 1,214 shares of the construction company’s stock valued at $43,000 after purchasing an additional 666 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.