Fluor (NYSE:FLR) Stock Price Expected to Rise, Truist Financial Analyst Says

Fluor (NYSE:FLR) had its target price hoisted by equities research analysts at Truist Financial from $62.00 to $66.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would suggest a potential upside of 30.28% from the company’s current price.

FLR has been the subject of several other research reports. UBS Group lifted their price target on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp lifted their price objective on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.86.

Fluor Price Performance

Shares of NYSE:FLR traded up $0.55 during midday trading on Thursday, reaching $50.66. The company’s stock had a trading volume of 234,888 shares, compared to its average volume of 1,722,810. The business’s fifty day simple moving average is $53.67 and its 200-day simple moving average is $49.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The company has a market capitalization of $8.69 billion, a P/E ratio of 33.77, a P/E/G ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last issued 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). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. As a group, equities research analysts expect that Fluor will post 2.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Thomas P. D’agostino sold 7,681 shares of Fluor stock in a transaction that occurred 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 sale, the insider now owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,942 shares of company stock worth $4,793,206. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position 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 valued at $41,000 after acquiring an additional 930 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Fluor during the second quarter worth $51,000. Quest Partners LLC acquired a new stake in Fluor in the 2nd quarter valued at about $52,000. Quarry LP lifted its position in shares of 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 buying an additional 942 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Fluor during the third quarter worth $96,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.