Fluor (NYSE:FLR) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Fluor from “strong sell” to “hold.” Despite the upgrade, the broader analyst view remains a “Moderate Buy,” with a consensus price target of $63.33.
• Fluor reported quarterly EPS of $0.91, beating estimates of $0.70, while revenue rose 8.8% year over year to $4.33 billion, ahead of the $3.92 billion consensus.
• Shares opened at $51.93 and were down 1.9%; recent analysts raised price targets, including Truist to $71, UBS to $66 and Citigroup to $68. Institutional investors own approximately 88.07% of the stock.

Fluor (NYSE:FLR - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

FLR has been the topic of a number of other reports. Truist Financial reissued a "buy" rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research note on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of Fluor in a research note on Friday, August 7th. UBS Group increased their price objective on shares of Fluor from $59.00 to $66.00 and gave the company a "buy" rating in a research report on Monday. Citigroup raised their price objective on shares of Fluor from $56.00 to $68.00 and gave the company a "buy" rating in a research note on Monday. Finally, Robert W. Baird boosted their price objective on Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

Fluor Stock Down 1.9%

Shares of NYSE:FLR opened at $51.93 on Tuesday. The firm has a market capitalization of $6.95 billion, a PE ratio of -4.23, a price-to-earnings-growth ratio of 1.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.78 and a current ratio of 1.80. Fluor has a 52-week low of $39.33 and a 52-week high of $57.93. The firm has a fifty day moving average of $51.01 and a 200 day moving average of $48.70.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Fluor's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Fluor will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the sale, the insider directly owned 36,064 shares of the company's stock, valued at $1,992,175.36. The trade was a 12.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by insiders.

Institutional Trading of Fluor

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Fluor in the second quarter worth $25,000. Assetmark Inc. increased its holdings in Fluor by 249.0% in the 4th quarter. Assetmark Inc. now owns 677 shares of the construction company's stock worth $27,000 after buying an additional 483 shares during the period. Los Angeles Capital Management LLC acquired a new position in Fluor in the 4th quarter worth approximately $27,000. Larson Financial Group LLC raised its position in Fluor by 6,116.7% during the 3rd quarter. Larson Financial Group LLC now owns 746 shares of the construction company's stock worth $31,000 after buying an additional 734 shares during the last quarter. Finally, Banque Transatlantique SA lifted its stake in Fluor by 312.5% during the 2nd quarter. Banque Transatlantique SA now owns 825 shares of the construction company's stock valued at $43,000 after acquiring an additional 625 shares during the period. Hedge funds and other institutional investors 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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