Robert W. Baird Reaffirms Neutral Rating for Fluor (NYSE:FLR)

Robert W. Baird reaffirmed their neutral rating on shares of Fluor (NYSE:FLR) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm currently has a $58.00 target price on the construction company’s stock, up from their previous target price of $54.00.

Other equities analysts have also recently issued reports about the company. UBS Group boosted their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial raised their target price on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. DA Davidson upped their target price on shares of Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, KeyCorp lifted their price target on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.86.

Fluor Stock Performance

NYSE:FLR opened at $50.34 on Wednesday. The business’s fifty day moving average is $53.67 and its 200 day moving average is $49.15. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 4.36 and a beta of 1.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly 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). The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 earnings per share. Research analysts predict that Fluor will post 2.62 EPS for the current year.

Insider Buying and Selling at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares in the company, valued at approximately $2,676,885.27. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction dated 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 owns 137,974 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 73,607 shares of company stock worth $4,063,720 over the last three months. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several hedge funds have recently made changes to their positions in FLR. Allspring Global Investments Holdings LLC boosted its position in Fluor by 6,642.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after acquiring an additional 930 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Fluor during the second quarter valued at approximately $51,000. Quest Partners LLC purchased a new stake in Fluor in the second quarter worth $52,000. Quarry LP raised its holdings in Fluor by 244.7% in the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock worth $63,000 after purchasing an additional 942 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Fluor during the third quarter valued at $96,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

About Fluor

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.