Truist Financial Lowers Fluor (NYSE:FLR) Price Target to $60.00

Fluor (NYSE:FLR) had its target price reduced by Truist Financial from $65.00 to $60.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. KeyCorp boosted their price target on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Citigroup decreased their price target on Fluor from $60.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. UBS Group boosted their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird decreased their price target on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.43.

Fluor Trading Down 5.3 %

Fluor stock opened at $37.73 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 3.10, a price-to-earnings-growth ratio of 3.23 and a beta of 1.89. The stock has a 50-day moving average price of $48.66 and a 200 day moving average price of $50.01.

Fluor (NYSE:FLR) last released 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). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Sell-side analysts anticipate that Fluor will post 2.5 EPS for the current year.

Insider Transactions at Fluor

In related news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the business’s 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 $7,780,353.86. The trade was a 5.27 % 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.

Institutional Trading of Fluor

Several large investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its position in shares of Fluor by 3.7% during the third quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock worth $235,000 after purchasing an additional 176 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Fluor by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after purchasing an additional 213 shares in the last quarter. Seelaus Asset Management LLC increased its position in shares of Fluor by 3.7% during the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock worth $307,000 after purchasing an additional 230 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Fluor by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,808 shares of the construction company’s stock valued at $533,000 after buying an additional 241 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Fluor by 4.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after buying an additional 277 shares in the last quarter. 88.07% of the stock is currently 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.