Fluor Corporation (NYSE:FLR) Stock Has Average Price Target of $63.33

Key Points

• Fluor has a consensus “Hold” rating from eight analysts, with four buys, three holds and one sell. The average 12-month price target is $63.33, above the reported share price of $52.08.
• Fluor exceeded quarterly expectations, reporting $0.91 EPS versus the $0.70 consensus and revenue of $4.33 billion, up 8.8% year over year.
• Institutional investors own 88.07% of Fluor’s shares, while insider ownership stands at 1.70%; one insider recently sold 5,000 shares under a pre-arranged Rule 10b5-1 trading plan.

Shares of Fluor Corporation (NYSE:FLR - Get Free Report) have received a consensus rating of "Hold" from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $63.33.

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Fluor from $56.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Zacks Research raised Fluor from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered Fluor from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, August 21st. UBS Group lifted their price target on Fluor from $59.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Truist Financial restated a "buy" rating and issued a $71.00 price target (up from $64.00) on shares of Fluor in a research note on Monday, August 10th.

Insiders Place Their Bets

In other Fluor news, insider Pierre Bechelany sold 5,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares of the company's stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fluor

Institutional investors have recently made changes to their positions in the stock. Maverick Capital Ltd. bought a new position in Fluor during the 1st quarter worth $66,036,000. Moore Capital Management LP lifted its position in shares of Fluor by 220.0% during the 2nd quarter. Moore Capital Management LP now owns 520,000 shares of the construction company's stock valued at $27,243,000 after acquiring an additional 357,521 shares during the period. Troluce Capital Advisors LLC acquired a new stake in shares of Fluor during the 1st quarter worth $18,660,000. Principal Financial Group Inc. grew its holdings in shares of Fluor by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 362,226 shares of the construction company's stock worth $16,898,000 after purchasing an additional 13,082 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Fluor by 34.9% in the first quarter. First Trust Advisors LP now owns 337,029 shares of the construction company's stock worth $15,722,000 after purchasing an additional 87,174 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Trading Up 2.9%

Shares of NYSE:FLR opened at $52.08 on Wednesday. Fluor has a 52-week low of $39.33 and a 52-week high of $58.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $6.96 billion, a P/E ratio of -4.24, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28. The company has a 50-day simple moving average of $52.69 and a 200 day simple moving average of $50.26.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The company had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same period last year, the firm posted $0.43 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Fluor will post 2.69 earnings per share for the current year.

Fluor Company Profile

Fluor Corporation NYSE: FLR is a global engineering, procurement, construction and project-management company. It provides integrated services for complex capital projects, including design and engineering, procurement, construction, commissioning, operations and maintenance, and program management.

The company serves clients across the energy, chemicals, infrastructure, mining, advanced manufacturing, government and commercial sectors. Its work includes developing and maintaining industrial facilities, transportation and other infrastructure, government and defense projects, and energy-related assets.

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