Robert W. Baird Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price lifted by Robert W. Baird from $48.00 to $49.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s target price indicates a potential upside of 13.21% from the company’s current price.

Other analysts have also issued reports about the company. DA Davidson lifted their price target on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Truist Financial boosted their price objective on Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Zacks Research lowered Fluor from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 20th. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Citigroup boosted their price objective on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.50.

Fluor Stock Performance

Shares of NYSE:FLR opened at $43.28 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.91. The business’s 50 day moving average price is $48.04 and its 200-day moving average price is $45.96. The firm has a market capitalization of $6.19 billion, a PE ratio of 25.16, a P/E/G ratio of 1.08 and a beta of 1.33. Fluor has a 1 year low of $35.14 and a 1 year high of $57.50.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, equities research analysts expect that Fluor will post 2.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael E. Alexander sold 3,387 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.07, for a total value of $179,748.09. Following the transaction, the insider owned 68,664 shares of the company’s stock, valued at $3,643,998.48. This represents a 4.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total value of $271,120.08. Following the completion of the transaction, the insider directly owned 194,514 shares in the company, valued at approximately $10,184,753.04. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,110 shares of company stock worth $1,168,920. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several large investors have recently modified their holdings of FLR. NewEdge Advisors LLC raised its holdings in shares of Fluor by 40.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock valued at $361,000 after buying an additional 2,896 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Fluor by 337.7% in the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after buying an additional 12,645 shares during the period. Caxton Associates LLP purchased a new stake in shares of Fluor in the 1st quarter valued at $266,000. Acadian Asset Management LLC purchased a new stake in Fluor during the 1st quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.