Fluor Corporation (NYSE:FLR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Fluor Corporation (NYSE:FLR) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $50.86.

FLR has been the subject of a number of recent research reports. KeyCorp dropped their price objective 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. UBS Group restated a “buy” rating and set a $60.00 price objective (up from $48.00) on shares of Fluor in a research report on Tuesday, June 24th. Truist Financial raised their price target on Fluor from $47.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Wall Street Zen cut shares of Fluor from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Citigroup dropped their target price on Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, April 25th.

Fluor Stock Up 0.4%

Shares of FLR opened at $52.26 on Monday. The business’s 50 day moving average is $44.90 and its 200 day moving average is $42.39. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30. Fluor has a 12-month low of $29.20 and a 12-month high of $60.10. The company has a market capitalization of $8.61 billion, a PE ratio of 5.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.34.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 2nd. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.23. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.27 billion. Fluor had a return on equity of 14.59% and a net margin of 11.13%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 earnings per share. Research analysts expect that Fluor will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Alvin C. Collins III sold 18,920 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $45.43, for a total transaction 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. This trade represents a 22.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David E. Constable sold 38,600 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $52.11, for a total transaction of $2,011,446.00. Following the transaction, the chairman directly owned 792,027 shares in the company, valued at $41,272,526.97. This trade represents a 4.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,320 shares of company stock valued at $4,870,182. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

A number of large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of Fluor by 196.2% during the fourth quarter. Sterling Capital Management LLC now owns 616 shares of the construction company’s stock valued at $30,000 after acquiring an additional 408 shares in the last quarter. Hurley Capital LLC acquired a new position in Fluor during the 1st quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL raised its stake in Fluor by 800.0% in the 1st quarter. Strategic Investment Solutions Inc. IL now owns 900 shares of the construction company’s stock worth $32,000 after acquiring an additional 800 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Fluor by 222.9% during the first quarter. SBI Securities Co. Ltd. now owns 1,101 shares of the construction company’s stock worth $39,000 after purchasing an additional 760 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Fluor during the fourth quarter worth $57,000. 88.07% of the stock is currently owned by institutional investors.

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.