Truist Financial Increases Fluor (NYSE:FLR) Price Target to $66.00

Fluor (NYSE:FLR) had its price objective lifted by stock analysts at Truist Financial from $62.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Truist Financial’s target price points to a potential upside of 30.28% from the company’s current price.

Other analysts have also recently issued research reports about the company. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and set a $58.00 price objective (up previously from $54.00) on shares of Fluor in a research report on Wednesday. UBS Group raised their price target on shares of Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, DA Davidson increased their price objective on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.86.

Fluor Stock Up 1.1 %

NYSE FLR traded up $0.55 during trading on Thursday, reaching $50.66. 234,888 shares of the company’s stock were exchanged, compared to its average volume of 1,722,810. The firm has a market capitalization of $8.69 billion, a PE ratio of 33.77, a P/E/G ratio of 4.36 and a beta of 1.89. Fluor has a fifty-two week low of $35.04 and a fifty-two 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’s fifty day simple moving average is $53.67 and its 200-day simple moving average is $49.15.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts predict that Fluor will post 2.62 EPS for the current year.

Insider Buying and Selling at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on 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 approximately $8,327,158.35. This represents a 25.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,942 shares of company stock valued at $4,793,206 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluor

Several large investors have recently modified their holdings of FLR. B. Riley Wealth Advisors Inc. acquired a new stake in Fluor in the 3rd quarter valued at $215,000. Birmingham Capital Management Co. Inc. AL bought a new position in shares of Fluor during the third quarter valued at $202,000. Cim Investment Management Inc. acquired a new stake in shares of Fluor in the 3rd quarter valued at $391,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Fluor during the 3rd quarter worth about $96,000. Finally, Sanctuary Advisors LLC lifted its holdings in Fluor by 18.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,820 shares of the construction company’s stock valued at $278,000 after purchasing an additional 897 shares during the last quarter. 88.07% of the stock is currently 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.