Fluor (NYSE:FLR) Given Neutral Rating at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Fluor (NYSE:FLR) in a report released on Wednesday, Marketbeat reports. Robert W. Baird currently has a $58.00 price target on the construction company’s stock, up from their prior price target of $54.00.

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

Fluor Stock Performance

Shares of NYSE FLR traded up $0.50 during mid-day trading on Wednesday, hitting $50.61. The company had a trading volume of 201,414 shares, compared to its average volume of 1,722,810. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 33.74, a P/E/G ratio of 4.36 and a beta of 1.89. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10. The stock’s 50-day moving average price is $53.67 and its 200-day moving average price is $49.15.

Fluor (NYSE:FLR) last announced its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a return on equity of 20.05% and a net margin of 1.64%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. Fluor’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Fluor will post 2.62 earnings per share for the current year.

Insider Transactions at Fluor

In other Fluor news, insider Thomas P. D’agostino sold 7,681 shares of the business’s 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 completion of the sale, the insider now owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,942 shares of company stock worth $4,793,206 over the last three months. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new stake in shares of Fluor in the second quarter worth about $47,559,000. Westfield Capital Management Co. LP bought a new stake in shares of Fluor during the third quarter valued at approximately $39,289,000. Rubric Capital Management LP grew its holdings in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock worth $139,992,000 after acquiring an additional 614,521 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after purchasing an additional 323,111 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

Fluor Company Profile

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.