Citigroup Issues Pessimistic Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its price objective decreased by equities researchers at Citigroup from $60.00 to $59.00 in a report issued 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 21.63% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. KeyCorp upped their target price 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. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial lowered their target price on Fluor from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. UBS Group increased 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. Finally, DA Davidson boosted their price objective on Fluor from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Fluor presently has an average rating of “Moderate Buy” and an average price target of $59.29.

Fluor Stock Up 0.8 %

Shares of NYSE FLR opened at $48.51 on Wednesday. Fluor has a 52-week low of $35.04 and a 52-week high of $60.10. The business’s 50 day moving average is $52.00 and its two-hundred day moving average is $50.33. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 3.83 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 0.48.

Fluor (NYSE:FLR) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 20.05% and a net margin of 1.64%. Fluor’s 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. Research analysts predict that Fluor will post 2.62 EPS for the current year.

Insider Buying and Selling

In other news, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were 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. The trade was a 5.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 147,045 shares in the company, valued at $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. 1.70% of the stock is owned by company insiders.

Institutional Trading of Fluor

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in shares of Fluor by 1.7% in the fourth quarter. Rhumbline Advisers now owns 547,402 shares of the construction company’s stock valued at $26,998,000 after buying an additional 9,338 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Fluor by 28.8% during the 4th quarter. Vontobel Holding Ltd. now owns 11,284 shares of the construction company’s stock valued at $557,000 after acquiring an additional 2,524 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Fluor by 140.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 13,250 shares of the construction company’s stock worth $653,000 after acquiring an additional 7,743 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Fluor in the 4th quarter valued at approximately $33,000. Finally, Silver Oak Securities Incorporated acquired a new position in shares of Fluor in the fourth quarter valued at approximately $432,000. Institutional investors and hedge funds 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.