Robert W. Baird Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR - Free Report) had its target price hoisted by Robert W. Baird from $41.00 to $55.00 in a research note issued to investors on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the construction company's stock.

Other equities research analysts also recently issued reports about the stock. UBS Group reiterated a "buy" rating and set a $60.00 target price (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. KeyCorp decreased their price target on shares of Fluor from $54.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. Wall Street Zen lowered shares of Fluor from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Citigroup reduced their target price on shares of Fluor from $55.00 to $46.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Truist Financial upped their target price on shares of Fluor from $47.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Fluor has an average rating of "Moderate Buy" and a consensus price target of $50.86.

Fluor Price Performance

Shares of Fluor stock traded up $0.22 during midday trading on Friday, hitting $52.26. 2,404,595 shares of the company traded hands, compared to its average volume of 2,676,899. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 2.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.74 and a current ratio of 1.74. The firm's fifty day moving average price is $44.90 and its 200-day moving average price is $42.51. Fluor has a 12 month low of $29.20 and a 12 month high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The firm's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. As a group, sell-side analysts forecast that Fluor will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Alvin C. Collins III sold 18,920 shares of the business's 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 transaction, the insider directly owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. The trade was a 22.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David E. Constable sold 40,800 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $49.00, for a total value of $1,999,200.00. Following the completion of the transaction, the chairman directly owned 870,627 shares in the company, valued at approximately $42,660,723. This represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,320 shares of company stock worth $4,870,182. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Fluor during the fourth quarter valued at approximately $3,667,000. New York State Teachers Retirement System grew its holdings in Fluor by 10.7% in the first quarter. New York State Teachers Retirement System now owns 192,218 shares of the construction company's stock valued at $6,885,000 after purchasing an additional 18,603 shares during the period. Golden State Wealth Management LLC grew its holdings in Fluor by 104.6% in the first quarter. Golden State Wealth Management LLC now owns 1,371 shares of the construction company's stock valued at $49,000 after purchasing an additional 701 shares during the period. Cinctive Capital Management LP acquired a new stake in shares of Fluor in the fourth quarter worth approximately $1,131,000. Finally, LPL Financial LLC boosted its stake in shares of Fluor by 19.3% in the fourth quarter. LPL Financial LLC now owns 118,652 shares of the construction company's stock worth $5,852,000 after acquiring an additional 19,161 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company's stock.

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.