UBS Group Increases Fluor (NYSE:FLR) Price Target to $63.00

Fluor (NYSE:FLR) had its target price raised by research analysts at UBS Group from $51.00 to $63.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s price target indicates a potential upside of 20.30% from the company’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial boosted their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. DA Davidson raised their target price on Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $65.00 in a research report on Tuesday. Barclays raised their price objective on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Robert W. Baird increased their price target on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Fluor presently has a consensus rating of “Moderate Buy” and an average price target of $58.29.

Fluor Trading Down 0.9 %

Shares of FLR opened at $52.37 on Wednesday. The stock has a 50 day simple moving average of $48.75 and a 200-day simple moving average of $45.38. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8.97 billion, a PE ratio of 30.45, a PEG ratio of 2.18 and a beta of 1.91. Fluor has a 1 year low of $32.31 and a 1 year high of $55.86.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the business earned $0.76 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that Fluor will post 2.88 EPS for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the sale, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO John C. Regan sold 13,000 shares of Fluor stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the sale, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares of the company’s stock, valued at $2,676,885.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,261 shares of company stock worth $2,156,604 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FLR. Park Avenue Securities LLC acquired a new position in shares of Fluor in the 1st quarter valued at $374,000. Hennessy Advisors Inc. raised its position in shares of Fluor by 18.0% during the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock worth $34,276,000 after purchasing an additional 123,500 shares during the period. New England Research & Management Inc. bought a new position in shares of Fluor during the 1st quarter valued at about $208,000. LVW Advisors LLC bought a new stake in Fluor during the 1st quarter worth approximately $211,000. Finally, Diversified Trust Co acquired a new stake in Fluor during the 1st quarter worth approximately $1,368,000. Institutional investors and hedge funds 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.