Fluor (NYSE:FLR) Upgraded to “Buy” at Citigroup

Fluor (NYSE:FLR) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report released on Tuesday, MarketBeat reports. The firm presently has a $65.00 price objective on the construction company’s stock, up from their prior price objective of $52.00. Citigroup’s price target indicates a potential upside of 20.71% from the stock’s previous close.

A number of other brokerages have also weighed in on FLR. UBS Group lifted their price objective on shares of Fluor from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target for the company in a report on Wednesday, July 17th. Robert W. Baird increased their price objective on Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial lifted their target price on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays lifted their price objective on Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.57.

Fluor Stock Down 2.1 %

Shares of NYSE FLR opened at $53.85 on Tuesday. The company has a market cap of $9.22 billion, a P/E ratio of 31.31, a PEG ratio of 2.18 and a beta of 1.91. The firm has a 50-day simple moving average of $48.39 and a two-hundred day simple moving average of $45.11. Fluor has a 1 year low of $32.31 and a 1 year high of $55.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77.

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 analysts’ consensus estimates of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the business earned $0.76 EPS. Fluor’s revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that Fluor will post 2.88 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares of the company’s stock, valued at $2,751,163.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now directly owns 41,908 shares in the company, valued at approximately $2,107,972.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,261 shares of company stock worth $2,156,604. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluor

A number of large investors have recently modified their holdings of the business. ClariVest Asset Management LLC boosted its stake in Fluor by 0.3% in the 2nd quarter. ClariVest Asset Management LLC now owns 77,587 shares of the construction company’s stock worth $3,379,000 after purchasing an additional 233 shares in the last quarter. Xponance Inc. increased its position in shares of Fluor by 1.2% in the 2nd quarter. Xponance Inc. now owns 23,097 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 265 shares during the period. JGP Wealth Management LLC raised its stake in Fluor by 5.6% in the 3rd quarter. JGP Wealth Management LLC now owns 5,313 shares of the construction company’s stock worth $253,000 after acquiring an additional 283 shares during the last quarter. GAMMA Investing LLC lifted its position in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after acquiring an additional 285 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fluor by 0.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock valued at $2,739,000 after purchasing an additional 286 shares during the period. Hedge funds and other institutional investors 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.