Truist Financial Issues Pessimistic Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price decreased by analysts at Truist Financial from $66.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Truist Financial’s price target would indicate a potential upside of 29.27% from the company’s current price.

Several other research firms have also issued reports on FLR. UBS Group increased their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird restated a “neutral” rating and issued a $58.00 price objective (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. DA Davidson boosted their price target on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $65.00 in a report on Tuesday, October 22nd. Finally, Baird R W cut shares of Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluor presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.14.

Fluor Stock Performance

NYSE FLR opened at $50.28 on Thursday. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $8.62 billion, a P/E ratio of 33.52, a PEG ratio of 3.39 and a beta of 1.91. The stock has a 50-day simple moving average of $52.13 and a two-hundred day simple moving average of $49.95.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) 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 company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 earnings per share. On average, equities analysts forecast that Fluor will post 2.62 earnings per share for the current year.

Insider Transactions at Fluor

In related news, insider Thomas P. D’agostino sold 7,681 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark E. Fields sold 50,000 shares of the company’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 owns 147,045 shares of the company’s stock, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Fluor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock worth $190,953,000 after purchasing an additional 51,018 shares during the period. Rubric Capital Management LP boosted its position in shares of Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after buying an additional 614,521 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock valued at $110,930,000 after buying an additional 323,111 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after acquiring an additional 457,220 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Fluor by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock valued at $95,648,000 after acquiring an additional 9,789 shares during the period. Hedge funds and other institutional investors 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.