Fluor Corporation (NYSE:FLR) Receives $50.86 Consensus Target Price from Brokerages

Shares of Fluor Corporation (NYSE:FLR) have received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $50.86.

FLR has been the subject of a number of research reports. Truist Financial raised their target price on Fluor from $47.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. UBS Group restated a “buy” rating and set a $60.00 target price (up previously from $48.00) on shares of Fluor in a report on Tuesday, June 24th. KeyCorp cut Fluor from an “overweight” rating to a “sector weight” rating and set a $41.00 price objective on the stock. in a report on Tuesday. Robert W. Baird boosted their target price on Fluor from $41.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut Fluor from a “buy” rating to a “hold” rating in a research note on Monday, May 5th.

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 40,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the transaction, the chairman directly owned 870,627 shares of the company’s stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares of the company’s stock, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,320 shares of company stock worth $4,870,182 in the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of institutional investors have recently modified their holdings of the stock. Ruffer LLP lifted its position in shares of Fluor by 182.7% during the 2nd quarter. Ruffer LLP now owns 18,590 shares of the construction company’s stock valued at $953,000 after acquiring an additional 12,013 shares during the period. Foster Victor Wealth Advisors LLC bought a new stake in shares of Fluor during the 2nd quarter worth $216,000. Evanson Asset Management LLC bought a new stake in shares of Fluor during the 2nd quarter worth $205,000. Public Employees Retirement System of Ohio bought a new stake in shares of Fluor during the 2nd quarter worth $136,000. Finally, Ballentine Partners LLC acquired a new position in Fluor in the 2nd quarter worth about $299,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Up 1.1%

Shares of FLR stock opened at $53.53 on Monday. The stock has a market cap of $8.81 billion, a P/E ratio of 5.13, a price-to-earnings-growth ratio of 2.54 and a beta of 1.34. Fluor has a one year low of $29.20 and a one year high of $60.10. The stock has a fifty day moving average price of $46.01 and a 200 day moving average price of $42.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.74 and a quick ratio of 1.74.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 earnings per share (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 firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that Fluor will post 2.5 earnings per share for the current year.

Fluor Company Profile

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.