Fluor (NYSE:FLR) Rating Lowered to Hold at Baird R W

Baird R W cut shares of Fluor (NYSE:FLR - Free Report) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on FLR. KeyCorp raised their target price on Fluor from $57.00 to $64.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. UBS Group boosted their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. DA Davidson increased their price target on shares of Fluor from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Citigroup upgraded shares of Fluor from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Finally, Truist Financial increased their price objective on Fluor from $61.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Fluor presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.86.

Fluor Price Performance

Fluor stock traded down $0.03 during mid-day trading on Wednesday, hitting $50.08. 1,826,239 shares of the company were exchanged, compared to its average volume of 1,729,632. Fluor has a 1-year low of $35.04 and a 1-year high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average of $53.67 and a 200 day moving average of $49.15. The company has a market capitalization of $8.59 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89.

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

Insider Transactions at Fluor

In related news, CFO Joseph L. Brennan sold 4,012 shares of the firm's stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the sale, the chief financial officer now owns 53,527 shares of the company's stock, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas P. D'agostino sold 7,681 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now directly owns 137,974 shares of the company's stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,942 shares of company stock worth $4,793,206 in the last three months. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Fluor

A number of hedge funds have recently modified their holdings of FLR. Allspring Global Investments Holdings LLC lifted its position in Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company's stock valued at $41,000 after acquiring an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Fluor in the second quarter valued at about $51,000. Quest Partners LLC acquired a new position in shares of Fluor during the second quarter worth about $52,000. Quarry LP grew its holdings in shares of Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company's stock worth $63,000 after buying an additional 942 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Fluor in the 3rd quarter valued at approximately $96,000. Institutional investors and hedge funds own 88.07% of the company's stock.

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.