Truist Financial Reaffirms “Buy” Rating for Fluor (NYSE:FLR)

Truist Financial restated their buy rating on shares of Fluor (NYSE:FLR) in a report issued on Monday, Benzinga reports. Truist Financial currently has a $46.00 price target on the construction company’s stock.

Other equities research analysts have also recently issued reports about the stock. KeyCorp began coverage on shares of Fluor in a research report on Wednesday, January 10th. They issued a sector weight rating on the stock. TheStreet cut shares of Fluor from a b- rating to a c rating in a research report on Wednesday, February 21st. Finally, Citigroup raised their target price on shares of Fluor from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $42.83.

Fluor Price Performance

Fluor stock opened at $41.91 on Monday. Fluor has a 12-month low of $25.69 and a 12-month high of $43.24. The stock has a market capitalization of $7.13 billion, a P/E ratio of 74.84, a P/E/G ratio of 3.23 and a beta of 2.11. The firm’s 50-day moving average is $38.57 and its two-hundred day moving average is $37.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. Fluor had a net margin of 0.90% and a return on equity of 24.25%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts predict that Fluor will post 2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Insight Wealth Strategies LLC purchased a new stake in shares of Fluor during the fourth quarter valued at approximately $1,020,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Fluor by 385.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,948 shares of the construction company’s stock valued at $6,934,000 after purchasing an additional 149,990 shares during the period. Mackay Shields LLC purchased a new stake in shares of Fluor during the third quarter valued at approximately $31,143,000. New York State Common Retirement Fund raised its stake in shares of Fluor by 36.7% during the third quarter. New York State Common Retirement Fund now owns 143,359 shares of the construction company’s stock valued at $5,261,000 after purchasing an additional 38,496 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Fluor by 33.9% in the third quarter. Hsbc Holdings PLC now owns 234,376 shares of the construction company’s stock worth $8,579,000 after buying an additional 59,283 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Company Profile

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.