Brokerages Set Fluor Co. (NYSE:FLR) Price Target at $60.14

Fluor Co. (NYSE:FLR) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $60.14.

Several research analysts have recently weighed in on the stock. UBS Group lifted their price target 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. DA Davidson lifted 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. KeyCorp lifted their price target on shares of Fluor from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Citigroup upgraded shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $58.00 target price (up previously from $54.00) on shares of Fluor in a research note on Wednesday, December 18th.

Fluor Price Performance

Shares of FLR opened at $54.58 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.48. Fluor has a twelve month low of $35.04 and a twelve month high of $60.10. The company has a market capitalization of $9.36 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 3.83 and a beta of 1.91. The firm has a 50 day moving average of $52.46 and a 200 day moving average of $50.29.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 EPS 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 company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now directly owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 in the company, valued at approximately $7,780,353.86. This trade represents a 5.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluor

Several hedge funds have recently added to or reduced their stakes in the company. Highland Capital Management LLC grew its holdings in Fluor by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 4,653 shares of the construction company’s stock valued at $229,000 after purchasing an additional 288 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Fluor by 27.1% during the 4th quarter. Pacer Advisors Inc. now owns 31,739 shares of the construction company’s stock valued at $1,565,000 after purchasing an additional 6,769 shares during the last quarter. KBC Group NV grew its holdings in Fluor by 62.8% during the 4th quarter. KBC Group NV now owns 7,399 shares of the construction company’s stock valued at $365,000 after purchasing an additional 2,855 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Fluor by 291.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company’s stock valued at $2,151,000 after purchasing an additional 32,472 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in Fluor during the 4th quarter valued at about $484,000. 88.07% of the stock is currently owned by 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.