Truist Financial Boosts Fluor (NYSE:FLR) Price Target to $66.00

Fluor (NYSE:FLR) had its target price boosted by Truist Financial from $61.00 to $66.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other analysts have also issued reports on FLR. Barclays raised their price target on shares of Fluor from $39.00 to $45.00 and gave the stock an equal weight rating in a research report on Thursday, July 18th. Citigroup lifted their price objective on Fluor from $47.00 to $52.00 and gave the company a neutral rating in a report on Monday, July 22nd. DA Davidson upped their price objective on shares of Fluor from $50.00 to $58.00 and gave the stock a buy rating in a research note on Monday, August 5th. UBS Group lifted their target price on shares of Fluor from $49.00 to $51.00 and gave the company a buy rating in a research note on Tuesday, August 6th. Finally, KeyCorp raised Fluor from a sector weight rating to an overweight rating and set a $57.00 price target for the company in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Fluor has a consensus rating of Moderate Buy and an average target price of $54.71.

Fluor Stock Up 2.2 %

NYSE FLR opened at $51.06 on Wednesday. Fluor has a 12 month low of $32.31 and a 12 month high of $51.64. The company has a market capitalization of $8.75 billion, a P/E ratio of 21.82, a PEG ratio of 2.18 and a beta of 1.91. The company’s 50 day simple moving average is $47.82 and its 200 day simple moving average is $44.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. Fluor’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.76 EPS. Equities research analysts expect that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Activity at Fluor

In related news, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the transaction, the chief accounting officer now directly owns 55,965 shares in the company, valued at $2,703,669.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John C. Regan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the transaction, the chief accounting officer now owns 55,965 shares in the company, valued at approximately $2,703,669.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,261 shares of company stock worth $2,156,604. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in shares of Fluor in the 1st quarter worth $28,000. ORG Partners LLC bought a new position in Fluor in the 2nd quarter worth approximately $34,000. GAMMA Investing LLC raised its holdings in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock valued at $39,000 after acquiring an additional 285 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Fluor by 6,642.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock worth $41,000 after acquiring an additional 930 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Fluor in the second quarter valued at $51,000. 88.07% of the stock is owned by 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.