Fluor (NYSE:FLR) Price Target Lowered to $59.00 at Citigroup

Fluor (NYSE:FLR) had its target price reduced by stock analysts at Citigroup from $60.00 to $59.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 21.63% from the company’s previous close.

A number of other brokerages have also recently commented on FLR. KeyCorp increased their target price on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. DA Davidson lifted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Baird R W lowered shares of Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Truist Financial lowered their price target on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $58.00 price target (up from $54.00) on shares of Fluor in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.29.

Fluor Stock Up 0.8 %

FLR stock opened at $48.51 on Wednesday. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.32 billion, a P/E ratio of 32.34, a P/E/G ratio of 3.83 and a beta of 1.91. The company’s 50-day moving average price is $52.00 and its 200 day moving average price is $50.33.

Fluor (NYSE:FLR) last released its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS. On average, 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 dated 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 completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the completion of the sale, the insider now directly owns 137,974 shares of the company’s stock, valued at $7,780,353.86. This trade represents a 5.27 % decrease in their position. 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 bought and sold shares of FLR. Westfield Capital Management Co. LP acquired a new stake in shares of Fluor during the third quarter worth approximately $39,289,000. Charles Schwab Investment Management Inc. grew its holdings 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. Artemis Investment Management LLP increased its position in shares of Fluor by 49.1% in the 4th quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company’s stock worth $61,792,000 after purchasing an additional 412,312 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Fluor by 42.1% in the 3rd quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after purchasing an additional 254,904 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Fluor during the third quarter worth about $9,542,000. 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.