Wall Street Zen Upgrades Fluor (NYSE:FLR) to "Buy"

Key Points

• Wall Street Zen upgraded Fluor to “Buy” from “Hold,” while the broader analyst consensus remains “Moderate Buy,” with an average price target of $63.33.
• Fluor reported quarterly EPS of $0.91, exceeding estimates of $0.70, while revenue rose 8.8% year over year to $4.33 billion, above the $3.92 billion consensus.
• Fluor shares opened at $52.46, near their 52-week high of $57.93; institutional investors own 88.07% of the company, while an insider recently sold 5,000 shares under a pre-arranged trading plan.

Fluor (NYSE:FLR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird raised their price target on Fluor from $49.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Truist Financial reiterated a "buy" rating and issued a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday. Barclays raised their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday. Zacks Research raised shares of Fluor from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Fluor in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.33.

Fluor Stock Up 0.2%

Fluor stock opened at $52.46 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.78. The company's 50-day moving average is $51.14 and its 200-day moving average is $48.77. The firm has a market capitalization of $7.02 billion, a PE ratio of -4.27, a P/E/G ratio of 1.64 and a beta of 1.25. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $57.93.

Fluor (NYSE:FLR - Get Free Report) last issued its earnings results on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. Fluor's revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. Sell-side analysts anticipate that Fluor will post 2.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider directly owned 36,064 shares of the company's stock, valued at approximately $1,992,175.36. This trade represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by insiders.

Institutional Trading of Fluor

A number of institutional investors have recently modified their holdings of FLR. NewEdge Advisors LLC increased its position in shares of Fluor by 40.3% in the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company's stock worth $361,000 after purchasing an additional 2,896 shares during the period. Jones Financial Companies Lllp lifted its position in Fluor by 337.7% during the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company's stock worth $587,000 after purchasing an additional 12,645 shares during the period. Caxton Associates LLP bought a new stake in Fluor during the first quarter worth about $266,000. Acadian Asset Management LLC acquired a new stake in Fluor during the first quarter worth about $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Fluor by 7.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company's stock valued at $194,000 after buying an additional 248 shares during the period. 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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