Fluor (NYSE:FLR) Stock Rating Upgraded by Zacks Research

Fluor (NYSE:FLR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

FLR has been the subject of several other research reports. Robert W. Baird upped their target price on shares of Fluor from $49.00 to $65.00 and gave the company a “neutral” rating in a report on Monday. Barclays boosted their price target on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday. Truist Financial reaffirmed a “buy” rating and set a $71.00 price objective (up from $64.00) on shares of Fluor in a report on Monday. UBS Group lifted their target price on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Fluor in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Fluor Trading Down 1.9%

FLR opened at $51.93 on Tuesday. Fluor has a 52 week low of $39.33 and a 52 week high of $57.93. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $51.01 and a 200-day simple moving average of $48.70. The firm has a market cap of $6.95 billion, a P/E ratio of -4.23, a P/E/G ratio of 1.66 and a beta of 1.25.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts expect that Fluor will post 2.66 earnings per share for the current year.

Insider Transactions at Fluor

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the sale, the insider directly owned 36,064 shares in the company, valued at approximately $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

Several institutional investors have recently made changes to their positions in FLR. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Fluor during the 2nd quarter worth $494,000. Quantbot Technologies LP purchased a new position in shares of Fluor in the 2nd quarter worth $1,398,000. Evolve Private Wealth LLC acquired a new position in Fluor in the second quarter valued at $555,000. Ieq Capital LLC purchased a new stake in Fluor during the second quarter valued at about $6,752,000. Finally, Callan Family Office LLC acquired a new stake in Fluor during the second quarter worth about $570,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

Fluor Company Profile

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.