Fluor (NYSE:FLR) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Fluor from a "strong-buy" to a "hold," and the stock's consensus analyst rating is now "Hold" with an average price target of $54.33 amid mixed analyst actions.
• Fluor's latest quarter missed estimates (EPS $0.33 vs. $0.34; revenue $4.18B vs. $4.27B), showed a negative net margin, and the shares were down about 2.1%, opening at $47.11.
• Company insiders have been net sellers recently (22,110 shares worth ~$1.17M in the last three months), while institutional investors own roughly 88.07% of the stock.

Fluor (NYSE:FLR - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

FLR has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Fluor from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Robert W. Baird raised their price objective on shares of Fluor from $45.00 to $48.00 and gave the company a "neutral" rating in a report on Wednesday, February 18th. Citigroup raised their price objective on shares of Fluor from $57.00 to $61.00 and gave the company a "buy" rating in a report on Friday, February 20th. Weiss Ratings downgraded shares of Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, February 17th. Finally, UBS Group reissued a "buy" rating and set a $57.00 target price on shares of Fluor in a research report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $54.33.

Fluor Stock Down 2.1%

Shares of NYSE FLR opened at $47.11 on Monday. The company has a 50 day simple moving average of $47.75 and a 200 day simple moving average of $45.61. The firm has a market cap of $6.74 billion, a PE ratio of -60.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. Fluor has a 1 year low of $33.55 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.27 billion. Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. On average, research analysts forecast that Fluor will post 2.75 EPS for the current year.

Insider Buying and Selling at Fluor

In other Fluor news, insider Kevin B. Hammonds sold 2,988 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $52.61, for a total transaction of $157,198.68. Following the completion of the sale, the insider owned 16,273 shares of the company's stock, valued at approximately $856,122.53. This represents a 15.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark E. Fields sold 5,178 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $52.36, for a total transaction of $271,120.08. Following the sale, the insider directly owned 194,514 shares of the company's stock, valued at $10,184,753.04. This represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,110 shares of company stock worth $1,168,920. Company insiders own 1.70% of the company's stock.

Institutional Trading of Fluor

Several large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of Fluor during the 1st quarter worth approximately $2,179,000. OP Asset Management Ltd acquired a new stake in shares of Fluor during the 1st quarter worth approximately $4,271,000. SG Americas Securities LLC grew its position in shares of Fluor by 4.8% during the 1st quarter. SG Americas Securities LLC now owns 47,894 shares of the construction company's stock worth $2,234,000 after buying an additional 2,187 shares during the period. Diversified Trust Co grew its position in shares of Fluor by 10.6% during the 1st quarter. Diversified Trust Co now owns 46,274 shares of the construction company's stock worth $2,159,000 after buying an additional 4,439 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Fluor by 15.5% during the 4th quarter. Hsbc Holdings PLC now owns 32,541 shares of the construction company's stock worth $1,285,000 after buying an additional 4,360 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Fluor Company Profile

Fluor Corporation NYSE: FLR is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company's core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor's diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.

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