Robert W. Baird Increases Fluor (NYSE:FLR) Price Target to $55.00

Fluor (NYSE:FLR - Get Free Report) had its price target upped by equities research analysts at Robert W. Baird from $41.00 to $55.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. Robert W. Baird's target price indicates a potential upside of 5.63% from the stock's previous close.

A number of other research firms have also recently weighed in on FLR. Citigroup cut their price objective on shares of Fluor from $55.00 to $46.00 and set a "buy" rating on the stock in a report on Friday, April 25th. KeyCorp cut their price objective on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. UBS Group reissued 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. Truist Financial raised 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. Finally, Wall Street Zen cut shares of Fluor from a "buy" rating to a "hold" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fluor presently has a consensus rating of "Moderate Buy" and an average price target of $50.86.

Fluor Price Performance

FLR opened at $52.07 on Friday. The stock's 50-day moving average price is $44.57 and its 200 day moving average price is $42.50. Fluor has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 4.99, a PEG ratio of 2.48 and a beta of 1.34.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.23. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The business had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $4.27 billion. During the same period last year, the firm earned $0.47 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Fluor will post 2.5 earnings per share for the current year.

Insider Buying and Selling at Fluor

In other Fluor news, insider Alvin C. Collins III sold 18,920 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $45.43, for a total transaction of $859,535.60. Following the sale, the insider owned 64,383 shares in the company, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David E. Constable sold 38,600 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total value of $2,011,446.00. Following the sale, the chairman owned 792,027 shares in the company, valued at approximately $41,272,526.97. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,320 shares of company stock worth $4,870,182 in the last three months. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Fluor

A number of hedge funds have recently bought and sold shares of FLR. Exchange Traded Concepts LLC boosted its position in shares of Fluor by 35.4% in the second quarter. Exchange Traded Concepts LLC now owns 80,811 shares of the construction company's stock worth $4,143,000 after acquiring an additional 21,136 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Fluor by 48.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 38,462 shares of the construction company's stock valued at $2,029,000 after purchasing an additional 12,590 shares in the last quarter. Byrne Asset Management LLC lifted its stake in shares of Fluor by 32.6% in the 2nd quarter. Byrne Asset Management LLC now owns 3,780 shares of the construction company's stock valued at $194,000 after purchasing an additional 930 shares in the last quarter. MFG Wealth Management Inc. acquired a new position in shares of Fluor in the 2nd quarter valued at about $2,104,000. Finally, Lingohr Asset Management GmbH acquired a new position in shares of Fluor in the 2nd quarter valued at about $492,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.