Fluor (NYSE:FLR) Given New $66.00 Price Target at Truist Financial

Fluor (NYSE:FLR - Get Free Report) had its price target increased by analysts at Truist Financial from $62.00 to $66.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. Truist Financial's target price suggests a potential upside of 31.79% from the company's previous close.

Other research analysts have also issued reports about the company. Baird R W lowered Fluor from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Citigroup upgraded Fluor from a "neutral" rating to a "buy" rating and raised their target price for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. 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 report on Tuesday, November 12th. UBS Group boosted their price objective on shares of Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $58.00 target price (up from $54.00) on shares of Fluor in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.86.

Fluor Price Performance

Shares of FLR stock traded down $0.03 during trading hours on Thursday, reaching $50.08. 1,826,239 shares of the company were exchanged, compared to its average volume of 1,729,632. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 4.36 and a beta of 1.89. 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 stock's fifty day moving average is $53.67 and its two-hundred day moving average is $49.15. Fluor has a fifty-two week low of $35.04 and a fifty-two week high of $60.10.

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

Insider Activity

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 53,527 shares of the company's stock, valued at $2,676,885.27. This represents a 6.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas P. D'agostino sold 7,681 shares of Fluor stock in a transaction that occurred on Thursday, December 5th. The shares were 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. This trade represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,942 shares of company stock worth $4,793,206 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Hood River Capital Management LLC acquired a new position in shares of Fluor during the 2nd quarter worth about $47,559,000. Westfield Capital Management Co. LP bought a new stake in Fluor during the third quarter worth about $39,289,000. Rubric Capital Management LP boosted its position in Fluor by 23.6% during the second quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company's stock valued at $139,992,000 after purchasing an additional 614,521 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fluor by 27.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company's stock worth $100,092,000 after purchasing an additional 457,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company's stock worth $110,930,000 after purchasing an additional 323,111 shares in the last quarter. Institutional investors 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.