Truist Financial Cuts Fluor (NYSE:FLR) Price Target to $60.00

Fluor (NYSE:FLR) had its price objective reduced by Truist Financial from $65.00 to $60.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Other analysts also recently issued reports about the company. KeyCorp lifted their target price on Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. DA Davidson cut their price target on Fluor from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday. Baird R W lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. UBS Group raised their price target on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup cut 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.43.

Fluor Stock Down 5.3 %

NYSE:FLR opened at $37.73 on Wednesday. Fluor has a twelve month low of $35.04 and a twelve month high of $60.10. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 3.10, a price-to-earnings-growth ratio of 3.23 and a beta of 1.89. The stock has a fifty day simple moving average of $48.66 and a 200-day simple moving average of $50.01. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. Analysts anticipate that Fluor will post 2.5 EPS for the current year.

Insider Buying and Selling at Fluor

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of Fluor 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 owns 137,974 shares in the company, valued at $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark E. Fields sold 50,000 shares of Fluor stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluor

Large investors have recently modified their holdings of the business. Cornerstone Wealth Management LLC purchased a new stake in shares of Fluor during the fourth quarter worth about $484,000. Exchange Traded Concepts LLC grew its stake in shares of Fluor by 291.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock worth $2,151,000 after acquiring an additional 32,472 shares during the last quarter. Aequim Alternative Investments LP grew its stake in shares of Fluor by 6.0% during the third quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock worth $35,437,000 after acquiring an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock worth $819,000 after acquiring an additional 9,992 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Fluor by 27.9% during the third 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 during the last quarter. Hedge funds and other institutional investors 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.