Truist Financial Cuts Fluor (NYSE:FLR) Price Target to $65.00

Fluor (NYSE:FLR) had its target price trimmed by Truist Financial from $66.00 to $65.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other research analysts have also recently issued research reports about the stock. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and upped their target price for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird reiterated a “neutral” rating and set a $58.00 target price (up previously from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. UBS Group upped their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp boosted their price objective on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.14.

Fluor Trading Up 1.6 %

Shares of NYSE:FLR opened at $50.28 on Thursday. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The company’s 50 day moving average is $52.13 and its two-hundred day moving average is $50.00. The company has a market cap of $8.62 billion, a PE ratio of 33.52, a P/E/G ratio of 3.39 and a beta of 1.91. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction on Thursday, December 5th. The stock was 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 in the company, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the sale, the insider now owns 147,045 shares in the company, 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. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted 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 acquiring an additional 527 shares in the last quarter. Quest Partners LLC purchased a new stake in Fluor during the second quarter worth $52,000. Quarry LP grew its holdings in Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock valued at $63,000 after purchasing an additional 942 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Fluor in the third quarter valued at $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Fluor during the 3rd quarter worth $96,000. 88.07% of the stock is owned by hedge funds and other 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.