Fluor (NYSE:FLR) Price Target Increased to $61.00 by Analysts at Truist Financial

Fluor (NYSE:FLR) had its target price hoisted by Truist Financial from $54.00 to $61.00 in a report issued on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

FLR has been the topic of a number of other reports. Citigroup increased their price objective on Fluor from $47.00 to $52.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Robert W. Baird lifted their price objective on Fluor from $46.00 to $54.00 and gave the stock an outperform rating in a research report on Monday. Barclays upped their target price on shares of Fluor from $39.00 to $45.00 and gave the company an equal weight rating in a research report on Thursday, July 18th. Finally, KeyCorp raised shares of Fluor from a sector weight rating to an overweight rating and set a $57.00 target price on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $54.00.

Fluor Price Performance

Shares of FLR stock opened at $48.90 on Monday. The stock’s fifty day moving average is $45.72 and its 200-day moving average is $41.68. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.67 and a current ratio of 1.67. Fluor has a 52 week low of $32.31 and a 52 week high of $51.64. The stock has a market capitalization of $8.37 billion, a PE ratio of 28.43, a PEG ratio of 2.55 and a beta of 1.99.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.17. Fluor had a net margin of 1.97% and a return on equity of 24.98%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the company posted $0.76 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Fluor will post 2.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BOKF NA boosted its position in shares of Fluor by 37,090.1% during the second quarter. BOKF NA now owns 45,000 shares of the construction company’s stock worth $1,960,000 after purchasing an additional 44,879 shares in the last quarter. Cornercap Investment Counsel Inc. raised its stake in Fluor by 68.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 23,595 shares of the construction company’s stock worth $1,028,000 after buying an additional 9,556 shares during the period. ClariVest Asset Management LLC grew its stake in Fluor by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock valued at $3,379,000 after acquiring an additional 233 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Fluor by 1.5% in the second quarter. Texas Permanent School Fund Corp now owns 151,320 shares of the construction company’s stock worth $6,590,000 after acquiring an additional 2,210 shares in the last quarter. Finally, United Services Automobile Association raised its position in shares of Fluor by 7.2% during the second quarter. United Services Automobile Association now owns 13,546 shares of the construction company’s stock worth $590,000 after purchasing an additional 904 shares during the period. 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.