Fluor (NYSE:FLR) Given New $60.00 Price Target at UBS Group

Fluor (NYSE:FLR - Get Free Report) had its price objective upped by investment analysts at UBS Group from $48.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. UBS Group's price objective would indicate a potential upside of 18.79% from the company's current price.

Several other equities research analysts also recently weighed in on FLR. Barclays set a $40.00 target price on shares of Fluor and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Wall Street Zen downgraded Fluor from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Robert W. Baird set a $41.00 price objective on Fluor in a research note on Monday, May 5th. Truist Financial lifted their target price on Fluor from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, KeyCorp reduced their price objective on Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.14.

Fluor Stock Performance

Shares of FLR stock opened at $50.51 on Tuesday. Fluor has a one year low of $29.20 and a one year high of $60.10. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 4.84, a price-to-earnings-growth ratio of 2.38 and a beta of 1.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. The company has a 50 day moving average price of $40.15 and a 200 day moving average price of $42.50.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.23. The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. Fluor's revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. Sell-side analysts anticipate that Fluor will post 2.5 EPS for the current year.

Insider Buying and Selling at Fluor

In other news, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider now directly owns 64,383 shares in the company, valued at $2,924,919.69. This trade represents a 22.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the transaction, the chairman now owns 870,627 shares in the company, valued at $42,660,723. This represents a 4.48% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Fluor

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of Fluor during the 1st quarter valued at about $1,329,000. Acadian Asset Management LLC bought a new stake in Fluor during the first quarter worth approximately $54,000. Intech Investment Management LLC grew its position in Fluor by 26.7% in the first quarter. Intech Investment Management LLC now owns 149,885 shares of the construction company's stock worth $5,369,000 after buying an additional 31,549 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of Fluor by 140.6% in the first quarter. Bayforest Capital Ltd now owns 26,589 shares of the construction company's stock valued at $952,000 after buying an additional 15,536 shares in the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Fluor during the 1st quarter valued at $215,000. Institutional investors own 88.07% of the company's stock.

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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