Fluor’s (FLR) “Neutral” Rating Reiterated at Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of Fluor (NYSE:FLR) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Robert W. Baird currently has a $58.00 price objective on the construction company’s stock, up from their prior price objective of $54.00.

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

Fluor Price Performance

Shares of NYSE:FLR opened at $50.34 on Wednesday. The firm has a market cap of $8.63 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 4.36 and a beta of 1.89. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The firm’s fifty day moving average is $53.67 and its 200-day moving average is $49.15. 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 (NYSE:FLR) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.25). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 EPS. Sell-side analysts predict that Fluor will post 2.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the sale, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. This represents a 6.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the transaction, the insider now owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,607 shares of company stock valued at $4,063,720. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FLR. CIBC Asset Management Inc raised its holdings in shares of Fluor by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 4,918 shares of the construction company’s stock worth $235,000 after purchasing an additional 176 shares during the period. Seelaus Asset Management LLC raised its stake in shares of Fluor by 3.7% in the third quarter. Seelaus Asset Management LLC now owns 6,445 shares of the construction company’s stock valued at $307,000 after buying an additional 230 shares during the period. ClariVest Asset Management LLC lifted its position in shares of Fluor by 0.3% during the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock valued at $3,379,000 after buying an additional 233 shares during the last quarter. Xponance Inc. increased its holdings in Fluor by 1.2% in the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock worth $1,006,000 after acquiring an additional 265 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in Fluor by 4.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,981 shares of the construction company’s stock valued at $286,000 after acquiring an additional 277 shares during the period. 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.