Truist Financial Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR - Get Free Report) had its target price cut by equities researchers at Truist Financial from $66.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Truist Financial's target price would suggest a potential upside of 31.47% from the company's current price.

Other analysts have also issued reports about the company. KeyCorp boosted their price objective on Fluor from $59.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. Baird R W downgraded Fluor from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Citigroup raised Fluor from a "neutral" rating to a "buy" rating and increased their price target for the company from $52.00 to $65.00 in a research report on Tuesday, October 22nd. DA Davidson lifted their price objective on shares of Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, UBS Group increased their target price on shares of Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Fluor has a consensus rating of "Moderate Buy" and a consensus target price of $60.14.

Fluor Stock Up 0.3 %

Shares of NYSE:FLR traded up $0.16 during trading on Thursday, reaching $49.44. 3,019,806 shares of the stock were exchanged, compared to its average volume of 2,098,801. Fluor has a 1-year low of $35.04 and a 1-year high of $60.10. The stock has a fifty day moving average of $52.34 and a two-hundred day moving average of $49.91. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 3.39 and a beta of 1.91.

Fluor (NYSE:FLR - Get Free Report) last released 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 business 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 quarter in the previous year, the company posted $1.02 EPS. Research analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the firm'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 completion of the sale, the insider now directly owns 147,045 shares of the company's stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas P. D'agostino sold 7,681 shares of the company'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 transaction, the insider now directly 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. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Fluor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in shares of Fluor in the second quarter worth about $47,559,000. Westfield Capital Management Co. LP purchased a new position in Fluor in the 3rd quarter valued at approximately $39,289,000. Rubric Capital Management LP raised its holdings in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company's stock valued at $139,992,000 after acquiring an additional 614,521 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 in the last quarter. Finally, Artemis Investment Management LLP boosted its holdings in shares of Fluor by 49.1% in the fourth quarter. Artemis Investment Management LLP now owns 1,252,876 shares of the construction company's stock worth $61,792,000 after acquiring an additional 412,312 shares during the period. 88.07% of the stock is currently owned by institutional investors.

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.