Fluor (NYSE:FLR) Given New $59.00 Price Target at Citigroup

Fluor (NYSE:FLR - Get Free Report) had its price target reduced by equities researchers at Citigroup from $60.00 to $59.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Citigroup's price target indicates a potential upside of 22.77% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Baird R W lowered Fluor from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Robert W. Baird reissued a "neutral" rating and set a $58.00 price objective (up previously from $54.00) on shares of Fluor in a research note on Wednesday, December 18th. UBS Group boosted their price objective on Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Truist Financial lowered their price objective on Fluor from $66.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson boosted their price objective on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.29.

Fluor Price Performance

Shares of NYSE FLR traded up $1.52 during midday trading on Wednesday, hitting $48.06. The stock had a trading volume of 3,704,205 shares, compared to its average volume of 2,737,298. The company has a market capitalization of $8.24 billion, a PE ratio of 32.04, a P/E/G ratio of 3.83 and a beta of 1.91. The stock has a 50 day simple moving average of $52.21 and a 200-day simple moving average of $50.36. 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.

Fluor (NYSE:FLR - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The business's revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.02 EPS. On average, sell-side analysts expect that Fluor will post 2.62 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark E. Fields sold 50,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. The trade was a 25.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas P. D'agostino sold 7,681 shares of the business's stock in a transaction on 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 sale, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Fluor

Several institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Fluor by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 206,060 shares of the construction company's stock worth $8,974,000 after purchasing an additional 9,567 shares during the period. Algert Global LLC increased its holdings in Fluor by 182.8% during the 2nd quarter. Algert Global LLC now owns 17,140 shares of the construction company's stock worth $746,000 after purchasing an additional 11,080 shares during the period. Creative Planning increased its holdings in Fluor by 68.9% during the 2nd quarter. Creative Planning now owns 30,987 shares of the construction company's stock worth $1,349,000 after purchasing an additional 12,642 shares during the period. Truist Financial Corp increased its holdings in Fluor by 3.7% during the 2nd quarter. Truist Financial Corp now owns 8,713 shares of the construction company's stock worth $379,000 after purchasing an additional 312 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Fluor during the 2nd quarter worth about $202,000. Hedge funds and other institutional investors 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.