Fluor (NYSE:FLR) Price Target Raised to $60.00 at KeyCorp

Fluor (NYSE:FLR - Get Free Report) had its price target lifted by stock analysts at KeyCorp from $59.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. KeyCorp's price target would indicate a potential upside of 21.78% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Baird R W downgraded shares of Fluor from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. DA Davidson lifted their target price on Fluor from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. 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 note on Tuesday, October 22nd. UBS Group upped their target price on Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised their price target on shares of Fluor from $62.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.29.

Fluor Price Performance

Shares of NYSE:FLR traded down $1.27 during trading on Wednesday, hitting $49.27. 3,107,345 shares of the company were exchanged, compared to its average volume of 2,019,468. 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 has a 1-year low of $35.04 and a 1-year high of $60.10. The company has a market capitalization of $8.45 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 4.27 and a beta of 1.89. The business's 50 day moving average is $52.89 and its 200-day moving average is $49.74.

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

Insider Activity

In other news, insider Thomas P. D'agostino sold 7,681 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was 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 owns 137,974 shares in the company, valued at $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLR. Arizona State Retirement System lifted its position in Fluor by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 47,639 shares of the construction company's stock valued at $2,075,000 after acquiring an additional 816 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Fluor during the second quarter valued at approximately $52,000. Ashton Thomas Private Wealth LLC bought a new stake in Fluor during the second quarter worth $51,000. Choreo LLC purchased a new stake in Fluor in the 2nd quarter valued at $250,000. Finally, United Services Automobile Association lifted its stake in Fluor by 7.2% during the 2nd quarter. United Services Automobile Association now owns 13,546 shares of the construction company's stock valued at $590,000 after acquiring an additional 904 shares in the last quarter. 88.07% of the stock is 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.