Fluor (NYSE:FLR) Stock Price Expected to Rise, Truist Financial Analyst Says

Fluor (NYSE:FLR - Free Report) had its price target boosted by Truist Financial from $47.00 to $59.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company's stock.

Other research analysts have also recently issued reports about the stock. UBS Group reissued a "buy" rating and set a $60.00 price objective (up from $48.00) on shares of Fluor in a research note on Tuesday, June 24th. Wall Street Zen downgraded Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Robert W. Baird set a $41.00 price objective on Fluor in a research report on Monday, May 5th. Citigroup cut their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, KeyCorp decreased their price target on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.86.

Fluor Price Performance

NYSE FLR traded up $1.24 during mid-day trading on Thursday, hitting $52.72. The stock had a trading volume of 2,263,112 shares, compared to its average volume of 2,650,765. The company has a 50 day simple moving average of $42.89 and a 200 day simple moving average of $42.46. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 5.05, a P/E/G ratio of 2.47 and a beta of 1.34. Fluor has a 52-week low of $29.20 and a 52-week high of $60.10. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.30.

Fluor (NYSE:FLR - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.50 by $0.23. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the previous year, the firm earned $0.47 EPS. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts forecast that Fluor will post 2.5 EPS for the current fiscal year.

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 40,800 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the transaction, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. This trade represents a 4.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of Fluor stock in a transaction 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 owned 64,383 shares in the company, valued at $2,924,919.69. The trade was a 22.71% 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 Investors Weigh In On Fluor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Fluor during the 4th quarter worth about $3,667,000. Golden State Wealth Management LLC lifted its position in Fluor by 104.6% during the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after buying an additional 701 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in Fluor during the fourth quarter worth approximately $1,131,000. LPL Financial LLC increased its position in shares of Fluor by 19.3% in the fourth quarter. LPL Financial LLC now owns 118,652 shares of the construction company's stock worth $5,852,000 after acquiring an additional 19,161 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Fluor by 43.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 955 shares of the construction company's stock valued at $47,000 after acquiring an additional 287 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Company Profile

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.