Fluor Corporation (NYSE:FLR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Fluor Corporation has received an average recommendation of "Moderate Buy" from eight analysts, with four holding and four buying ratings. The average one-year target price is $49.57.
• Insider selling activity includes Alvin C. Collins III selling 18,920 shares and Chairman David E. Constable selling 40,800 shares, reflecting a decrease in their ownership percentages.
• Fluor reported a loss in quarterly earnings, missing estimates with $0.43 per share compared to expected $0.59, and revenue fell by 5.9% year-over-year.

Fluor Corporation (NYSE:FLR - Get Free Report) has received an average rating of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $49.5714.

Several equities research analysts have recently weighed in on FLR shares. Citigroup decreased their target price on shares of Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a research note on Monday. KeyCorp lowered Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 target price on the stock. in a report on Tuesday, July 15th. Wall Street Zen downgraded Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Robert W. Baird dropped their price objective on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, UBS Group reduced their target price on shares of Fluor from $60.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday.

Insider Activity at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider owned 64,383 shares of the company's stock, valued at $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total value of $1,999,200.00. Following the sale, the chairman owned 870,627 shares in the company, valued at approximately $42,660,723. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock worth $4,870,182 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Simplify Asset Management Inc. acquired a new position in shares of Fluor in the second quarter worth about $3,495,000. Allworth Financial LP increased its holdings in Fluor by 6.6% in the second quarter. Allworth Financial LP now owns 6,497 shares of the construction company's stock valued at $333,000 after buying an additional 402 shares during the last quarter. Americana Partners LLC acquired a new stake in Fluor during the second quarter valued at approximately $246,000. Lisanti Capital Growth LLC acquired a new position in shares of Fluor in the 2nd quarter worth approximately $2,516,000. Finally, PFG Advisors bought a new stake in shares of Fluor in the 2nd quarter valued at approximately $658,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Stock Up 0.6%

FLR opened at $44.19 on Friday. The stock has a market capitalization of $7.14 billion, a P/E ratio of 1.82, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.74 and a current ratio of 1.62. Fluor has a one year low of $29.20 and a one year high of $60.10. The business's 50-day simple moving average is $49.91 and its 200-day simple moving average is $42.76.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The construction company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.16). The firm had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $4.55 billion. Fluor had a net margin of 25.35% and a return on equity of 9.27%. Fluor's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. Analysts anticipate that Fluor will post 2.5 EPS for the current year.

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.

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