Fluor (NYSE:FLR) Price Target Lowered to $46.00 at Robert W. Baird

Fluor (NYSE:FLR) had its price objective dropped by analysts at Robert W. Baird from $58.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential upside of 15.74% from the company’s current price.

Other equities analysts have also issued reports about the stock. KeyCorp boosted their target price on shares of Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Truist Financial decreased their price objective on Fluor from $66.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. DA Davidson raised their target price on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup decreased their price target on Fluor from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.57.

Fluor Trading Down 8.4 %

Shares of FLR stock opened at $39.75 on Wednesday. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10. The firm has a market capitalization of $6.82 billion, a P/E ratio of 26.50, a PEG ratio of 3.06 and a beta of 1.89. The stock’s fifty day moving average is $49.64 and its two-hundred day moving average is $50.22. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.30). Fluor had a return on equity of 20.05% and a net margin of 1.64%. Research analysts expect that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was 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 approximately $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after purchasing an additional 527 shares during the last quarter. Sterling Capital Management LLC raised its stake in Fluor by 196.2% during the 4th quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock worth $30,000 after acquiring an additional 408 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in Fluor in the fourth quarter valued at $33,000. Smartleaf Asset Management LLC grew its holdings in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company’s stock worth $47,000 after purchasing an additional 287 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Fluor during the fourth quarter worth about $57,000. 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.