Fluor (NYSE:FLR) Stock Rating Lowered by Wall Street Zen

Key Points

• Fluor's stock rating was downgraded by Wall Street Zen from "hold" to "sell," reflecting a negative outlook from analysts.
• Multiple analysts have lowered their target prices for Fluor, with Truist Financial setting a target of $52.00 and KeyCorp reducing it to $41.00.
• Fluor's recent earnings report revealed a miss in EPS estimates and a year-over-year revenue decline, leading to further concern among investors.

Fluor (NYSE:FLR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

A number of other research firms also recently commented on FLR. UBS Group dropped their price objective on Fluor from $60.00 to $56.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Citigroup cut 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, August 4th. Truist Financial set a $52.00 target price on shares of Fluor in a research note on Monday, August 4th. Robert W. Baird decreased their target price on Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Finally, KeyCorp cut 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $49.57.

Fluor Stock Up 3.9%

Shares of Fluor stock traded up $1.63 on Friday, hitting $43.30. 2,416,065 shares of the company's stock traded hands, compared to its average volume of 3,580,239. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.00 billion, a P/E ratio of 1.79 and a beta of 1.43. Fluor has a 52-week low of $29.20 and a 52-week high of $60.10. The firm's 50-day moving average is $49.93 and its 200 day moving average is $42.42.

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

Insider Activity 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 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 approximately $2,924,919.69. This represents a 22.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman David E. Constable sold 40,800 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman directly owned 870,627 shares of the company's stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,320 shares of company stock worth $4,870,182 in the last three months. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. grew its position in Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after acquiring an additional 1,523,647 shares during the last quarter. Pacer Advisors Inc. grew its position in Fluor by 4,097.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company's stock worth $47,723,000 after acquiring an additional 1,300,568 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Fluor by 43.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,646,837 shares of the construction company's stock worth $130,630,000 after acquiring an additional 1,104,350 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Fluor by 10,125.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company's stock worth $52,129,000 after buying an additional 1,046,610 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Fluor by 145.1% during the 1st quarter. AQR Capital Management LLC now owns 1,625,776 shares of the construction company's stock worth $57,276,000 after buying an additional 962,382 shares during the period. 88.07% of the stock is 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.