Fluor (NYSE:FLR) Raised to “Buy” at StockNews.com

Fluor (NYSE:FLR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts also recently issued research reports about the stock. Truist Financial decreased their price objective on shares of Fluor from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. DA Davidson dropped their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Barclays set a $40.00 target price on Fluor and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Robert W. Baird dropped their price target on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

Fluor Stock Performance

Shares of FLR stock opened at $38.00 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $47.23 and a 200-day simple moving average of $49.65. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 3.12, a price-to-earnings-growth ratio of 1.36 and a beta of 1.89. Fluor has a 12-month low of $36.00 and a 12-month high of $60.10.

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

Insider Activity

In other news, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Fluor by 2,509.5% during the 4th quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after purchasing an additional 527 shares during the period. Sterling Capital Management LLC grew its position in shares of Fluor by 196.2% in the fourth 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 during the period. Golden State Wealth Management LLC acquired a new position in Fluor in the fourth quarter valued at $33,000. Smartleaf Asset Management LLC lifted its position in Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after buying an additional 287 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in Fluor in the 4th quarter worth about $57,000. Institutional investors and hedge funds 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.