Fluor (NYSE:FLR) Lowered to “Hold” Rating by Zacks Research

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

Other analysts have also issued research reports about the company. Truist Financial upped their target price on Fluor from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Robert W. Baird upped 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. DA Davidson upped 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. Citigroup raised their price objective on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, UBS Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Fluor in a research report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.33.

Fluor Stock Up 2.4%

FLR traded up $1.11 on Monday, hitting $48.25. 335,378 shares of the company were exchanged, compared to its average volume of 2,614,090. Fluor has a 12 month low of $33.82 and a 12 month high of $57.50. The company has a market cap of $6.91 billion, a PE ratio of -61.86, a PEG ratio of 1.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 1.91. The stock’s fifty day moving average is $47.75 and its 200-day moving average is $45.61.

Fluor (NYSE:FLR) last released its earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a positive return on equity of 7.96% and a negative net margin of 0.34%.The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Fluor will post 2.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark E. Fields sold 5,178 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $52.36, for a total value of $271,120.08. Following the completion of the sale, the insider directly owned 194,514 shares of the company’s stock, valued at $10,184,753.04. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Anthony Morgan sold 3,387 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $53.09, for a total value of $179,815.83. Following the completion of the sale, the insider directly owned 45,999 shares of the company’s stock, valued at approximately $2,442,086.91. The trade was a 6.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 22,110 shares of company stock valued at $1,168,920. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

A number of large investors have recently made changes to their positions in FLR. Global Retirement Partners LLC increased its stake in shares of Fluor by 91.7% during the fourth quarter. Global Retirement Partners LLC now owns 650 shares of the construction company’s stock worth $26,000 after purchasing an additional 311 shares during the period. Assetmark Inc. increased its stake in shares of Fluor by 249.0% during the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock worth $27,000 after purchasing an additional 483 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Fluor during the fourth quarter worth approximately $27,000. CoreCap Advisors LLC increased its stake in shares of Fluor by 129.5% during the third quarter. CoreCap Advisors LLC now owns 723 shares of the construction company’s stock worth $30,000 after purchasing an additional 408 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Fluor by 6,116.7% during the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after purchasing an additional 734 shares during the period. Institutional investors own 88.07% of the company’s stock.

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.