Robert W. Baird Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Key Points

• Robert W. Baird has lowered its price target for Fluor's stock from $55.00 to $46.00 while maintaining a "neutral" rating, indicating a potential upside of 10.95% from the stock's previous close.
• Fluor reported a quarterly EPS of $0.43, missing analysts' expectations and showing a revenue decline of 5.9% compared to the same quarter last year.
• Insider trading activity has been notable, with Chairman David E. Constable selling 40,800 shares of Fluor, marking a 4.48% reduction in their ownership.

Fluor (NYSE:FLR - Get Free Report) had its price objective cut by analysts at Robert W. Baird from $55.00 to $46.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the construction company's stock. Robert W. Baird's price objective indicates a potential upside of 10.95% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective on the stock. in a report on Tuesday, July 15th. Citigroup restated a "buy" rating and set a $71.00 price objective (up previously from $47.00) on shares of Fluor in a report on Monday, July 28th. UBS Group restated a "buy" rating and set a $60.00 price objective (up previously from $48.00) on shares of Fluor in a report on Tuesday, June 24th. Finally, Truist Financial upped their price objective on shares of Fluor from $47.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $53.14.

Fluor Trading Down 27.0%

NYSE:FLR opened at $41.46 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 1.71, a PEG ratio of 2.43 and a beta of 1.43. The firm has a fifty day simple moving average of $49.91 and a two-hundred day simple moving average of $42.87. Fluor has a 12 month low of $29.20 and a 12 month high of $60.10.

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

Insiders Place Their Bets

In other news, Chairman David E. Constable sold 40,800 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total transaction 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 $42,660,723. This trade represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the firm's 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 sale, the insider directly owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. 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 over the last ninety days. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Fluor

Several large investors have recently made changes to their positions in the business. Whalen Wealth Management Inc. purchased a new stake in shares of Fluor during the 2nd quarter valued at $254,000. Convergence Investment Partners LLC purchased a new stake in shares of Fluor during the 2nd quarter valued at $1,626,000. GoalVest Advisory LLC purchased a new stake in shares of Fluor during the 2nd quarter valued at $344,000. Solstein Capital LLC purchased a new position in shares of Fluor during the 2nd quarter valued at $38,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Fluor by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 83,748 shares of the construction company's stock valued at $4,294,000 after buying an additional 2,970 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.

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