Fluor (NYSE:FLR) PT Raised to $46.00

Fluor (NYSE:FLR) had its price target lifted by equities research analysts at Robert W. Baird from $42.00 to $46.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential upside of 19.45% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Citigroup lifted their target price on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. KeyCorp initiated coverage on Fluor in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Truist Financial restated a “buy” rating and issued a $46.00 price objective on shares of Fluor in a research report on Monday, March 25th. Finally, TheStreet lowered Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

Fluor Price Performance

Shares of FLR opened at $38.51 on Monday. The firm has a market cap of $6.55 billion, a PE ratio of 22.39, a P/E/G ratio of 3.08 and a beta of 2.11. The company has a current ratio of 1.67, a quick ratio of 1.60 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $39.85 and a two-hundred day simple moving average of $38.47. Fluor has a 1-year low of $25.69 and a 1-year high of $43.24.

Fluor (NYSE:FLR) last announced its earnings results on Friday, May 3rd. The construction company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. Fluor’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts anticipate that Fluor will post 2.84 EPS for the current year.

Institutional Investors Weigh In On Fluor

Institutional investors have recently modified their holdings of the stock. Insight Wealth Strategies LLC bought a new stake in shares of Fluor in the 4th quarter valued at approximately $1,020,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Fluor by 385.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock worth $6,934,000 after buying an additional 149,990 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Fluor by 36.7% in the third quarter. New York State Common Retirement Fund now owns 143,359 shares of the construction company’s stock worth $5,261,000 after buying an additional 38,496 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Fluor by 33.9% in the third quarter. Hsbc Holdings PLC now owns 234,376 shares of the construction company’s stock worth $8,579,000 after buying an additional 59,283 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Fluor by 13.1% in the third quarter. Deutsche Bank AG now owns 84,608 shares of the construction company’s stock worth $3,105,000 after buying an additional 9,797 shares during the period. 88.07% of the stock is owned by 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.