Fluor’s (FLR) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of Fluor (NYSE:FLR) in a research note published on Monday morning,Benzinga reports. The firm currently has a $62.00 price target on the construction company’s stock, down from their previous price target of $71.00.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded Fluor from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Robert W. Baird dropped their target price on Fluor from $64.00 to $56.00 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, August 21st. Barclays boosted 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. Finally, UBS Group upped their price target on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Fluor Price Performance

NYSE:FLR opened at $50.68 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.80 and a current ratio of 1.83. The company has a 50-day moving average of $50.17 and a 200-day moving average of $49.41. Fluor has a 52 week low of $39.33 and a 52 week high of $58.35. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -7.43, a PEG ratio of 1.02 and a beta of 1.22.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 6th. The construction company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.03). Fluor had a negative net margin of 7.19% and a positive return on equity of 10.52%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Fluor will post 2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in shares of Fluor by 209.9% during the third quarter. Fisher Asset Management LLC now owns 1,728,795 shares of the construction company’s stock worth $82,775,000 after buying an additional 1,170,945 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of Fluor in the 1st quarter worth approximately $66,036,000. Russell Investments Group Ltd. boosted its holdings in shares of Fluor by 59.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 751,259 shares of the construction company’s stock worth $35,978,000 after acquiring an additional 281,049 shares in the last quarter. Moore Capital Management LP grew its position in Fluor by 220.0% during the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock worth $27,243,000 after acquiring an additional 357,521 shares during the last quarter. Finally, Troluce Capital Advisors LLC bought a new stake in Fluor during the 1st quarter worth approximately $18,660,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

About Fluor

Fluor Corporation is a global engineering and construction company that provides engineering, procurement, construction, maintenance and project-management services. It works with clients to plan and deliver complex projects, and also provides services for facility operations, upgrades and decommissioning. The company serves customers in sectors including energy, chemicals, mining and metals, infrastructure, advanced technologies and life sciences. Through its government-focused work, Fluor also supports federal agencies and government programs, including projects involving environmental remediation and national security.