Citigroup Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its price target lowered by Citigroup from $60.00 to $59.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s target price indicates a potential upside of 26.89% from the stock’s current price.

A number of other research firms also recently issued reports on FLR. Truist Financial decreased their price target on shares of Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. DA Davidson raised their target price on Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. UBS Group raised their price objective on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $58.00 target price (up from $54.00) on shares of Fluor in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fluor currently has a consensus rating of “Moderate Buy” and an average price target of $59.29.

Fluor Stock Up 0.3 %

Shares of NYSE:FLR opened at $46.50 on Wednesday. Fluor has a 1 year low of $35.04 and a 1 year high of $60.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50-day moving average is $52.21 and its 200 day moving average is $50.36. The company has a market cap of $7.98 billion, a PE ratio of 31.00, a P/E/G ratio of 3.83 and a beta of 1.91.

Fluor (NYSE:FLR) last released 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). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm earned $1.02 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Fluor will post 2.62 EPS for the current year.

Insider Activity

In other Fluor news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 137,974 shares in the company, valued at approximately $7,780,353.86. This represents a 5.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLR. Versant Capital Management Inc boosted its holdings in Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock worth $27,000 after purchasing an additional 527 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Fluor in the fourth quarter worth $33,000. Quarry LP increased its position in Fluor by 244.7% during the third quarter. Quarry LP now owns 1,327 shares of the construction company’s stock valued at $63,000 after acquiring an additional 942 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Fluor in the third quarter valued at about $96,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Fluor during the 3rd quarter valued at about $96,000. 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.