Citigroup Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its price target cut by Citigroup from $60.00 to $59.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other equities analysts have also weighed in on FLR. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating 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. DA Davidson lifted their price target on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. KeyCorp upped their price objective on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $58.00 target price (up previously from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.29.

Fluor Price Performance

Shares of FLR opened at $48.30 on Wednesday. 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 has a twelve month low of $35.04 and a twelve month high of $60.10. The stock has a market capitalization of $8.28 billion, a P/E ratio of 32.20, a P/E/G ratio of 3.40 and a beta of 1.91. The company has a 50 day moving average of $51.85 and a 200-day moving average of $50.33.

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 the consensus estimate of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the firm earned $1.02 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Fluor will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the transaction, the insider now directly owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Fluor

Several institutional investors and hedge funds have recently modified their holdings of FLR. Versant Capital Management Inc raised its stake in Fluor by 2,509.5% during the fourth 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. Golden State Wealth Management LLC bought a new stake in shares of Fluor during the fourth quarter worth $33,000. Quarry LP increased its holdings in shares of Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after buying an additional 942 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Fluor by 826.2% during the 4th quarter. Venturi Wealth Management LLC now owns 1,556 shares of the construction company’s stock valued at $77,000 after acquiring an additional 1,388 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Fluor during the 3rd quarter worth $96,000. 88.07% of the stock is currently owned by 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.