Fluor (NYSE:FLR) Cut to Hold at Zacks Research

Zacks Research lowered shares of Fluor (NYSE:FLR) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

FLR has been the topic of a number of other reports. UBS Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Fluor in a report on Thursday, February 19th. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. Citigroup increased their target price on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Robert W. Baird increased their target price on Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Finally, DA Davidson increased their target price on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fluor currently has a consensus rating of “Hold” and a consensus price target of $54.33.

Fluor Stock Performance

Shares of NYSE FLR opened at $47.79 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. The stock’s fifty day moving average price is $47.75 and its two-hundred day moving average price is $45.62. Fluor has a one year low of $33.82 and a one year high of $57.50. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of -61.27, a P/E/G ratio of 1.17 and a beta of 1.30.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the company earned $0.48 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast that Fluor will post 2.75 EPS for the current year.

Insider Buying and Selling at Fluor

In related news, insider Mark E. Fields sold 5,178 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total transaction of $271,120.08. Following the completion of the sale, the insider directly owned 194,514 shares in the company, valued at $10,184,753.04. This represents a 2.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael E. Alexander sold 3,387 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $53.07, for a total value of $179,748.09. Following the sale, the insider owned 68,664 shares of the company’s stock, valued at approximately $3,643,998.48. This represents a 4.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,110 shares of company stock worth $1,168,920 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluor

Several large investors have recently bought and sold shares of the company. Starboard Value LP bought a new position in Fluor in the fourth quarter valued at about $205,732,000. AQR Capital Management LLC raised its position in Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after purchasing an additional 3,203,712 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Fluor by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock valued at $178,962,000 after purchasing an additional 377,985 shares during the last quarter. Rubric Capital Management LP raised its position in Fluor by 12.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock valued at $189,315,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Morgan Stanley raised its position in Fluor by 0.6% in the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock valued at $134,969,000 after purchasing an additional 20,210 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors.

About Fluor

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.