Fluor (NYSE:FLR) Upgraded by Citigroup to Buy

Fluor (NYSE:FLR) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat reports. The brokerage presently has a $65.00 price target on the construction company’s stock, up from their previous price target of $52.00. Citigroup’s price objective suggests a potential upside of 20.71% from the company’s current price.

Other research analysts have also recently issued reports about the company. Barclays lifted their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. DA Davidson lifted their price target on shares of Fluor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 5th. UBS Group increased their price objective on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Robert W. Baird lifted their target price on shares of Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, KeyCorp raised shares of Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.57.

Fluor Stock Down 2.1 %

Fluor stock opened at $53.85 on Tuesday. The stock has a market cap of $9.22 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.18 and a beta of 1.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a fifty day moving average of $48.39 and a 200 day moving average of $45.11. Fluor has a one year low of $32.31 and a one year high of $55.86.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.17. Fluor had a net margin of 2.62% and a return on equity of 25.02%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that Fluor will post 2.88 EPS for the current year.

Insider Buying and Selling at Fluor

In other Fluor news, CAO John C. Regan sold 13,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the completion of the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John C. Regan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,261 shares of company stock worth $2,156,604. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

A number of hedge funds have recently bought and sold shares of FLR. ORG Partners LLC purchased a new position in shares of Fluor in the 2nd quarter worth $34,000. GAMMA Investing LLC increased its stake in Fluor by 46.4% during the second quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Fluor by 6,642.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after purchasing an additional 930 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Fluor in the 2nd quarter valued at approximately $51,000. Finally, Quest Partners LLC purchased a new position in shares of Fluor in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

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.