Fluor (NYSE:FLR) Sets New 1-Year Low - Here's What Happened

Fluor Co. (NYSE:FLR - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $33.82 and last traded at $34.88, with a volume of 2402663 shares trading hands. The stock had previously closed at $35.07.

Analysts Set New Price Targets

FLR has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on shares of Fluor from $57.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Truist Financial cut their price target on Fluor from $60.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Barclays set a $40.00 price objective on Fluor and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. StockNews.com raised Fluor from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Finally, Citigroup lowered their price target on Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Fluor presently has a consensus rating of "Moderate Buy" and an average target price of $45.57.

Fluor Trading Up 0.2 %

The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 2.94, a PEG ratio of 1.36 and a beta of 1.66. The business has a 50-day moving average of $35.43 and a 200-day moving average of $45.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69.

Fluor (NYSE:FLR - Get Free Report) last announced its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. As a group, research analysts forecast that Fluor Co. will post 2.5 EPS for the current year.

Institutional Investors Weigh In On Fluor

Several hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new stake in Fluor during the 4th quarter worth approximately $484,000. Quantbot Technologies LP acquired a new stake in shares of Fluor during the fourth quarter worth $3,667,000. Exchange Traded Concepts LLC grew its position in Fluor by 291.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 43,605 shares of the construction company's stock valued at $2,151,000 after buying an additional 32,472 shares during the last quarter. Cinctive Capital Management LP acquired a new position in Fluor in the 4th quarter valued at $1,131,000. Finally, LPL Financial LLC raised its position in Fluor by 19.3% during the 4th quarter. LPL Financial LLC now owns 118,652 shares of the construction company's stock worth $5,852,000 after buying an additional 19,161 shares during the last quarter. Institutional investors and hedge funds 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.