Truist Financial Reiterates "Buy" Rating for Fluor (NYSE:FLR)

Key Points

• Truist Financial reaffirmed its Buy rating on Fluor and slightly lowered its price target to $57 from $59, implying about 29% upside from the prior close.
• Analyst sentiment is mixed overall: other firms recently adjusted ratings and targets, and MarketBeat’s average view on Fluor is currently Hold with a $53.33 average price target.
• Fluor reported weak quarterly results, with EPS of $0.14 versus $0.66 expected and revenue of $3.66 billion versus $3.89 billion expected, even as institutional ownership remains high.

Fluor (NYSE:FLR - Get Free Report)'s stock had its "buy" rating reaffirmed by Truist Financial in a research note issued on Monday,Benzinga reports. They currently have a $57.00 target price on the construction company's stock, down from their previous target price of $59.00. Truist Financial's price objective would suggest a potential upside of 29.28% from the stock's previous close.

Several other research analysts have also issued reports on FLR. Wall Street Zen raised shares of Fluor from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. DA Davidson raised their target price on shares of Fluor from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Robert W. Baird raised their target price on shares of Fluor from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday. UBS Group reiterated a "buy" rating and issued a $57.00 price target on shares of Fluor in a research report on Thursday, February 19th. Finally, Weiss Ratings downgraded shares of Fluor from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $53.33.

Fluor Price Performance

Shares of FLR stock traded up $0.78 during mid-day trading on Monday, reaching $44.09. The company's stock had a trading volume of 751,817 shares, compared to its average volume of 2,704,922. Fluor has a 1-year low of $37.04 and a 1-year high of $57.50. The company has a market cap of $6.31 billion, a P/E ratio of 25.60, a PEG ratio of 1.08 and a beta of 1.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.91 and a current ratio of 1.78. The firm's 50-day moving average is $48.04 and its two-hundred day moving average is $45.96.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a return on equity of 5.90% and a net margin of 2.30%.The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the company posted $0.73 EPS. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. On average, research analysts predict that Fluor will post 2.75 earnings per share for the current year.

Insider Activity at Fluor

In other news, insider Tracey H. Cook sold 2,589 shares of Fluor stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $53.22, for a total transaction of $137,786.58. Following the completion of the sale, the insider owned 10,731 shares of the company's stock, valued at approximately $571,103.82. This trade represents a 19.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Morgan sold 3,387 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.09, for a total value of $179,815.83. Following the transaction, the insider directly owned 45,999 shares of the company's stock, valued at approximately $2,442,086.91. The trade was a 6.86% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 22,110 shares of company stock valued at $1,168,920. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Fluor

Several institutional investors have recently added to or reduced their stakes in FLR. Starboard Value LP acquired a new position in Fluor in the fourth quarter valued at approximately $205,732,000. Rubric Capital Management LP acquired a new position in shares of Fluor during the second quarter worth approximately $205,080,000. AQR Capital Management LLC raised its position in Fluor by 163.1% in the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company's stock valued at $204,795,000 after buying an additional 3,203,712 shares during the last quarter. Sourcerock Group LLC purchased a new stake in Fluor in the 2nd quarter valued at $85,327,000. Finally, Ameriprise Financial Inc. raised its position in Fluor by 361.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,507,442 shares of the construction company's stock valued at $77,289,000 after buying an additional 1,180,838 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

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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