Fluor (NYSE:FLR) Upgraded by Citigroup to Buy

Citigroup upgraded shares of Fluor (NYSE:FLR) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat reports. The firm currently has $65.00 price objective on the construction company’s stock, up from their prior price objective of $52.00.

A number of other analysts have also issued reports on FLR. DA Davidson lifted their price objective on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Truist Financial lifted their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays lifted their price target on shares of Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, KeyCorp upgraded shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.29.

Fluor Trading Down 0.2 %

NYSE FLR opened at $52.29 on Tuesday. Fluor has a one year low of $32.31 and a one year high of $55.86. The company’s 50 day moving average price is $48.83 and its 200 day moving average price is $45.45. 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 firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 2.18 and a beta of 1.91.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.68 by $0.17. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the firm posted $0.76 earnings per share. Fluor’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Fluor will post 2.88 EPS for the current year.

Insider Buying and Selling at Fluor

In other news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares in the company, valued at approximately $2,107,972.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO John C. Regan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the transaction, the chief accounting officer now owns 55,965 shares in the company, valued at approximately $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 over the last 90 days. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC acquired a new stake in Fluor in the first quarter worth about $374,000. Hennessy Advisors Inc. lifted its holdings in Fluor by 18.0% in the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock worth $34,276,000 after purchasing an additional 123,500 shares during the period. New England Research & Management Inc. acquired a new stake in Fluor in the first quarter worth about $208,000. LVW Advisors LLC acquired a new stake in Fluor in the first quarter worth about $211,000. Finally, Diversified Trust Co acquired a new stake in Fluor in the first quarter worth about $1,368,000. Institutional investors own 88.07% of the company’s stock.

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.