Fluor (NYSE:FLR) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Fluor (NYSE:FLR) from a neutral rating to a buy rating in a report published on Tuesday morning, Marketbeat Ratings reports. Citigroup currently has $65.00 price target on the construction company’s stock, up from their prior price target of $52.00.

A number of other analysts also recently commented on the company. KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research note on Wednesday, July 17th. Truist Financial raised their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird boosted their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. UBS Group raised their target price on shares of Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Barclays upped their price target on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.29.

Fluor Stock Performance

Shares of FLR opened at $52.37 on Tuesday. The firm has a market capitalization of $8.97 billion, a PE ratio of 30.45, a P/E/G ratio of 2.18 and a beta of 1.91. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $48.75 and a 200 day moving average price of $45.38. Fluor has a 52-week low of $32.31 and a 52-week high of $55.86.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Transactions at Fluor

In related news, CFO Joseph L. Brennan sold 11,619 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $50.30, for a total value of $584,435.70. Following the completion of the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was 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 directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,261 shares of company stock valued at $2,156,604 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of large investors have recently made changes to their positions in the business. Hood River Capital Management LLC purchased a new position in Fluor during the second quarter valued at approximately $47,559,000. Rubric Capital Management LP boosted its stake in shares of Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company’s stock valued at $139,992,000 after buying an additional 614,521 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 valued at $110,930,000 after acquiring an additional 323,111 shares in the last quarter. Great Lakes Advisors LLC grew its stake in Fluor by 2,441.9% in the second quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock valued at $12,310,000 after purchasing an additional 271,535 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Fluor by 63.8% during the 2nd quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock valued at $24,771,000 after buying an additional 222,070 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.