Fluor Corporation (NYSE:FLR) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Fluor, with four buy, three hold, and one sell recommendation. The average 12-month price target is $63.33, above the stock’s reported $54.09 price.
• Fluor exceeded quarterly expectations, reporting $0.91 in earnings per share versus the $0.70 consensus and $4.33 billion in revenue versus $3.92 billion expected. Revenue increased 8.8% year over year.
• Institutional investors own 88.07% of Fluor, while insider ownership is 1.70%; an insider recently sold 5,000 shares for approximately $276,200 under a pre-arranged trading plan.

Shares of Fluor Corporation (NYSE:FLR - Get Free Report) have been assigned an average recommendation of "Hold" from the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $63.3333.

FLR has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Fluor from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Robert W. Baird lifted their target price on shares of Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, August 21st. Truist Financial reissued a "buy" rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a report on Monday, August 10th. Finally, UBS Group upped their price objective on Fluor from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, August 10th.

Insiders Place Their Bets

In related news, insider Pierre Bechelany sold 5,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the sale, the insider owned 36,064 shares of the company's stock, valued at $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Fluor

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in Fluor by 45.2% during the first quarter. Empowered Funds LLC now owns 138,342 shares of the construction company's stock valued at $6,454,000 after acquiring an additional 43,078 shares during the last quarter. State of Wyoming purchased a new position in shares of Fluor during the 2nd quarter worth about $1,358,000. Energy Income Partners LLC purchased a new position in shares of Fluor during the 2nd quarter worth about $5,826,000. Pacific Heights Asset Management LLC grew its holdings in Fluor by 23.1% during the 4th quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company's stock valued at $15,852,000 after purchasing an additional 75,000 shares during the last quarter. Finally, First National Bank of Omaha purchased a new stake in Fluor in the 2nd quarter worth about $8,804,000. 88.07% of the stock is owned by institutional investors.

Fluor Stock Performance

FLR stock opened at $54.09 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.80. Fluor has a 1 year low of $39.33 and a 1 year high of $58.35. The company has a market cap of $7.23 billion, a P/E ratio of -4.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The stock's fifty day moving average price is $52.25 and its 200-day moving average price is $49.73.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.Fluor's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Fluor will post 2.64 earnings per share for the current year.

About Fluor

Fluor Corporation NYSE: FLR is a global engineering, procurement, construction and project management company. It provides design and construction services, program management, operations and maintenance, and other professional services for complex capital projects. Fluor serves clients in areas including energy, chemicals and petrochemicals, advanced technologies, infrastructure, mining and metals, and government and defense.

The company delivers projects across the full development cycle, from front-end engineering and design through procurement, construction, commissioning and ongoing operations.

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