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

StockNews.com upgraded shares of Fluor (NYSE:FLR) from a hold rating to a buy rating in a research report report published on Thursday morning.

Other equities analysts also recently issued research reports about the stock. DA Davidson decreased their target price on shares of Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird reduced their price objective on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup dropped their target price on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. KeyCorp increased their target price on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, UBS Group lifted their price target on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.43.

Fluor Trading Up 0.6 %

NYSE FLR opened at $39.78 on Thursday. The firm has a market capitalization of $6.82 billion, a PE ratio of 3.26, a P/E/G ratio of 3.25 and a beta of 1.89. The stock’s 50 day moving average is $49.00 and its 200 day moving average is $50.07. Fluor has a twelve month low of $35.04 and a twelve month high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 18.20%. Research analysts forecast that Fluor will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Thomas P. D’agostino sold 7,681 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the sale, the insider now owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the transaction, the insider now directly owns 147,045 shares of the company’s stock, valued at $8,327,158.35. The trade was a 25.37 % 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.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after acquiring an additional 527 shares during the period. Sterling Capital Management LLC increased its position in shares of Fluor by 196.2% during 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 during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Fluor in the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC boosted its holdings in shares of Fluor by 43.0% in 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 last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Fluor during the fourth quarter valued at approximately $57,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.