Fluor (NYSE:FLR) Lowered to “Hold” Rating by Baird R W

Baird R W downgraded shares of Fluor (NYSE:FLR) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also commented on FLR. KeyCorp increased their price objective on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group upped their target price on Fluor from $51.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson boosted their price objective on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Fluor has an average rating of “Moderate Buy” and a consensus price target of $60.86.

Fluor Stock Performance

NYSE:FLR traded up $0.50 during mid-day trading on Wednesday, reaching $50.61. The stock had a trading volume of 201,414 shares, compared to its average volume of 1,722,810. Fluor has a twelve month low of $35.04 and a twelve month high of $60.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The business has a 50 day simple moving average of $53.67 and a 200 day simple moving average of $49.15. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 4.36 and a beta of 1.89.

Fluor (NYSE:FLR) last posted its 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 business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the business posted $1.02 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas P. D’agostino sold 7,681 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total transaction of $433,131.59. Following the sale, the insider now owns 137,974 shares in the company, valued at $7,780,353.86. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark E. Fields sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the sale, the insider now owns 147,045 shares in the company, valued at $8,327,158.35. The trade was a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,942 shares of company stock worth $4,793,206. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Fluor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,001,622 shares of the construction company’s stock valued at $190,953,000 after purchasing an additional 51,018 shares in the last quarter. Rubric Capital Management LP lifted its holdings in Fluor by 23.6% in 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 acquiring an additional 614,521 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fluor by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company’s stock worth $110,930,000 after purchasing an additional 323,111 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after buying an additional 457,220 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Fluor by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 2,004,775 shares of the construction company’s stock worth $95,648,000 after buying an additional 9,789 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.