Brokerages Set Fluor Corporation (NYSE:FLR) PT at $63.33

Fluor Corporation (NYSE:FLR) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $63.3333.

Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Citigroup boosted their target price on shares of Fluor from $56.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Barclays lifted their price target on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Truist Financial reissued a “buy” rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a research note on Monday, August 10th. Finally, Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st.

Insiders Place Their Bets

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider directly owned 36,064 shares in the company, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Several institutional investors and hedge funds have recently made changes to their positions in FLR. California State Teachers Retirement System grew its position in Fluor by 4,306.3% in the 2nd quarter. California State Teachers Retirement System now owns 8,232,093 shares of the construction company’s stock worth $431,279,000 after purchasing an additional 8,045,269 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Fluor during the 1st quarter worth approximately $66,036,000. Thompson Siegel & Walmsley LLC purchased a new position in shares of Fluor in the 4th quarter worth approximately $39,546,000. Moore Capital Management LP grew its holdings in shares of Fluor by 220.0% in the second quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock valued at $27,243,000 after acquiring an additional 357,521 shares in the last quarter. Finally, Troluce Capital Advisors LLC purchased a new stake in shares of Fluor during the first quarter valued at approximately $18,660,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Down 1.4%

Shares of NYSE:FLR opened at $53.43 on Friday. The business’s 50 day simple moving average is $52.28 and its two-hundred day simple moving average is $49.72. The firm has a market cap of $7.15 billion, a P/E ratio of -4.35, a PEG ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. Fluor has a 52-week low of $39.33 and a 52-week high of $58.35.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Fluor will post 2.64 EPS for the current fiscal year.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.