Citigroup Lowers Fluor (NYSE:FLR) Price Target to $46.00

Fluor (NYSE:FLR) had its price objective decreased by equities research analysts at Citigroup from $55.00 to $46.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Citigroup’s price target points to a potential upside of 29.43% from the stock’s previous close.

FLR has been the subject of several other reports. Barclays set a $40.00 price target on shares of Fluor and gave the stock an “equal weight” rating in a report on Thursday, February 27th. UBS Group decreased their target price on shares of Fluor from $57.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday. Truist Financial dropped their price target on shares of Fluor from $60.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. DA Davidson reduced their price objective on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, KeyCorp dropped their target price on Fluor from $54.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.57.

Fluor Price Performance

Shares of NYSE:FLR opened at $35.54 on Friday. The company’s fifty day moving average is $35.72 and its two-hundred day moving average is $46.02. The company has a market cap of $5.97 billion, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 1.36 and a beta of 1.66. Fluor has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a quick ratio of 1.77, a current ratio of 1.69 and a debt-to-equity ratio of 0.28.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.30). Fluor had a net margin of 13.14% and a return on equity of 15.14%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.42 billion. Equities analysts expect that Fluor will post 2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluor

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Fluor by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,698,120 shares of the construction company’s stock worth $872,871,000 after acquiring an additional 168,822 shares in the last quarter. Alliancebernstein L.P. boosted its position in Fluor by 3.6% during the fourth quarter. Alliancebernstein L.P. now owns 3,093,998 shares of the construction company’s stock worth $152,596,000 after purchasing an additional 107,327 shares during the period. Dimensional Fund Advisors LP grew its holdings in Fluor by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,515,911 shares of the construction company’s stock valued at $124,087,000 after purchasing an additional 25,528 shares during the last quarter. Northern Trust Corp raised its position in shares of Fluor by 12.9% in the fourth quarter. Northern Trust Corp now owns 2,391,954 shares of the construction company’s stock valued at $117,971,000 after purchasing an additional 273,156 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Fluor by 329.5% in the fourth 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 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.