Fluor (NYSE:FLR) Given New $63.00 Price Target at UBS Group

Fluor (NYSE:FLR) had its target price raised by investment analysts at UBS Group from $51.00 to $63.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. UBS Group’s target price would indicate a potential upside of 18.33% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays upped their price objective on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Truist Financial increased their target price on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a report on Wednesday, July 17th. Citigroup upgraded Fluor from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $65.00 in a report on Tuesday. Finally, DA Davidson upped their price target on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.29.

Fluor Price Performance

Fluor stock traded down $0.43 during midday trading on Wednesday, hitting $53.24. 257,468 shares of the company’s stock were exchanged, compared to its average volume of 1,561,310. Fluor has a 52-week low of $32.31 and a 52-week high of $55.86. The stock has a 50-day moving average price of $48.61 and a two-hundred day moving average price of $45.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $9.11 billion, a P/E ratio of 30.95, a PEG ratio of 2.18 and a beta of 1.91.

Fluor (NYSE:FLR) last posted its earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that Fluor will post 2.88 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at approximately $2,751,163.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,261 shares of company stock worth $2,156,604 in the last 90 days. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of institutional investors and hedge funds have recently modified their holdings of the company. ClariVest Asset Management LLC boosted its stake in shares of Fluor by 0.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after buying an additional 233 shares during the last quarter. Xponance Inc. raised its holdings in Fluor by 1.2% during the second quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 265 shares during the period. JGP Wealth Management LLC raised its holdings in Fluor by 5.6% during the third quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock valued at $253,000 after acquiring an additional 283 shares during the period. GAMMA Investing LLC raised its holdings in Fluor by 46.4% during the second 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. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Fluor by 0.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock valued at $2,739,000 after acquiring an additional 286 shares during the period. 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.