Fluor’s (FLR) Buy Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Fluor (NYSE:FLR) in a report published on Monday morning,Benzinga reports. They currently have a $57.00 target price on the construction company’s stock, down from their previous target price of $59.00.

A number of other research analysts have also weighed in on FLR. Robert W. Baird boosted their target price on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday. DA Davidson boosted their target price on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Citigroup decreased their target price on Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

Fluor Stock Up 0.7%

FLR stock opened at $45.04 on Monday. The company has a current ratio of 1.78, a quick ratio of 1.91 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $6.29 billion, a PE ratio of 26.19, a PEG ratio of 1.36 and a beta of 1.33. Fluor has a 1-year low of $37.33 and a 1-year high of $57.50. The business’s 50 day simple moving average is $47.41 and its 200 day simple moving average is $45.86.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. As a group, research analysts anticipate that Fluor will post 2.74 EPS for the current year.

Insiders Place Their Bets

In related news, insider Anthony Morgan sold 3,387 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.09, for a total value of $179,815.83. Following the completion of the sale, the insider directly owned 45,999 shares in the company, valued at $2,442,086.91. The trade was a 6.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin B. Hammonds sold 2,988 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $52.61, for a total value of $157,198.68. Following the sale, the insider owned 16,273 shares of the company’s stock, valued at approximately $856,122.53. The trade was a 15.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,110 shares of company stock worth $1,168,920 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluor

A number of institutional investors have recently modified their holdings of FLR. NewEdge Advisors LLC lifted its position in shares of Fluor by 40.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after acquiring an additional 2,896 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Fluor by 337.7% during the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after acquiring an additional 12,645 shares during the period. Caxton Associates LLP bought a new stake in shares of Fluor during the 1st quarter valued at $266,000. Acadian Asset Management LLC bought a new stake in shares of Fluor during the 1st quarter valued at $54,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock valued at $194,000 after acquiring an additional 248 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.