UBS Group Has Lowered Expectations for Fluor (NYSE:FLR) Stock Price

Key Points

• UBS Group has reduced the price target for Fluor (NYSE:FLR) from $60.00 to $56.00, maintaining a "buy" rating, which indicates a potential upside of 29.52% from the latest closing price.
• Fluor's recent earnings report showed a miss in earnings per share of $0.43, falling short of estimates by $0.16, alongside a overall revenue decline of 5.9% compared to the previous year.
• Various analysts have adjusted their price targets on Fluor, with a consensus rating of "Hold" and an average price target of $49.57, reflecting a cautious outlook on the stock amidst recent downgrades.

Fluor (NYSE:FLR - Free Report) had its price target trimmed by UBS Group from $60.00 to $56.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

FLR has been the topic of several other reports. Truist Financial set a $52.00 price objective on shares of Fluor in a research report on Monday. Robert W. Baird lowered their price target on shares of Fluor from $55.00 to $46.00 and set a "neutral" rating on the stock in a report on Monday. KeyCorp downgraded shares of Fluor from an "overweight" rating to a "sector weight" rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 15th. Wall Street Zen downgraded Fluor from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Citigroup dropped their price target on Fluor from $71.00 to $57.00 and set a "buy" rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Fluor currently has an average rating of "Hold" and an average target price of $49.57.

Fluor Stock Performance

NYSE FLR traded down $0.77 during trading on Wednesday, reaching $43.37. 909,951 shares of the company's stock were exchanged, compared to its average volume of 3,542,241. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.62 and a quick ratio of 1.74. The business has a 50 day moving average price of $49.91 and a 200-day moving average price of $42.76. The stock has a market capitalization of $7.01 billion, a P/E ratio of 1.79, a PEG ratio of 2.60 and a beta of 1.43. Fluor has a fifty-two week low of $29.20 and a fifty-two week high of $60.10.

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

Insider Activity at Fluor

In related news, Chairman David E. Constable sold 38,600 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $52.11, for a total value of $2,011,446.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alvin C. Collins III sold 18,920 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the transaction, the insider directly owned 64,383 shares of the company's stock, valued at approximately $2,924,919.69. This trade represents a 22.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,320 shares of company stock valued at $4,870,182. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its stake in Fluor by 43.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,646,837 shares of the construction company's stock valued at $130,630,000 after acquiring an additional 1,104,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fluor by 21.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,066,704 shares of the construction company's stock valued at $109,847,000 after purchasing an additional 550,793 shares in the last quarter. Greenhouse Funds LLLP increased its stake in shares of Fluor by 1.2% in the 1st quarter. Greenhouse Funds LLLP now owns 2,467,385 shares of the construction company's stock valued at $88,382,000 after purchasing an additional 29,404 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Fluor by 12.9% during the 4th quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company's stock worth $117,971,000 after buying an additional 273,156 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of Fluor by 329.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company's stock worth $97,954,000 after buying an additional 1,523,647 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.