Truist Financial Cuts Fluor (NYSE:FLR) Price Target to $60.00

Fluor (NYSE:FLR - Free Report) had its target price decreased by Truist Financial from $65.00 to $60.00 in a report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the construction company's stock.

Other research analysts also recently issued research reports about the company. KeyCorp lifted their price target on Fluor from $59.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Baird R W lowered Fluor from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Citigroup dropped their target price on Fluor from $60.00 to $59.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. DA Davidson dropped their price target on Fluor from $65.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Robert W. Baird reduced their price target on Fluor from $58.00 to $46.00 and set a "neutral" rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.43.

Fluor Stock Performance

Shares of NYSE FLR traded down $2.10 during mid-day trading on Wednesday, hitting $37.73. The company had a trading volume of 4,140,554 shares, compared to its average volume of 3,613,242. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 3.10, a PEG ratio of 1.36 and a beta of 1.89. Fluor has a 12 month low of $35.04 and a 12 month high of $60.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The firm's 50 day simple moving average is $48.66 and its two-hundred day simple moving average is $50.04.

Fluor (NYSE:FLR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). Fluor had a return on equity of 15.14% and a net margin of 13.14%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.42 billion. As a group, equities research analysts forecast that Fluor will post 2.5 earnings per share for the current year.

Insider Buying and Selling 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 shares were 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas P. D'agostino sold 7,681 shares of Fluor stock in a transaction 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 sale, the insider now directly owns 137,974 shares of the company's stock, valued at $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Fluor

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc increased its position in shares of Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock valued at $27,000 after acquiring an additional 527 shares during the period. Sterling Capital Management LLC increased its position in shares of Fluor by 196.2% in the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company's stock valued at $30,000 after acquiring an additional 408 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Fluor during the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC increased its position in shares of Fluor by 43.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after buying an additional 287 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Fluor during the fourth quarter valued at about $57,000. Hedge funds and other 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.