Fluor (NYSE:FLR) Stock Gets Price Target Trim from Robert W. Baird

Fluor (NYSE:FLR) had its price target trimmed by Robert W. Baird from $64.00 to $56.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other analysts also recently issued research reports about the company. Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Citigroup restated a “buy” rating on shares of Fluor in a research note on Friday, October 23rd. Weiss Ratings downgraded Fluor from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, August 21st. Wall Street Zen downgraded shares of Fluor from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Truist Financial reissued a “buy” rating and set a $71.00 price target (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.00.

Fluor Stock Performance

Shares of Fluor stock opened at $50.68 on Monday. The company has a 50 day moving average price of $50.17 and a 200 day moving average price of $49.41. The firm has a market capitalization of $6.50 billion, a P/E ratio of -7.43, a PEG ratio of 1.02 and a beta of 1.22. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 0.39. Fluor has a 52 week low of $39.33 and a 52 week high of $58.35.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 6th. The construction company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.03). The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Fluor had a positive return on equity of 10.52% and a negative net margin of 7.19%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. Sell-side analysts expect that Fluor will post 2.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in shares of Fluor by 209.9% during the 3rd quarter. Fisher Asset Management LLC now owns 1,728,795 shares of the construction company’s stock worth $82,775,000 after purchasing an additional 1,170,945 shares during the period. Maverick Capital Ltd. acquired a new stake in Fluor during the 1st quarter worth approximately $66,036,000. Russell Investments Group Ltd. lifted its stake in shares of Fluor by 59.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 751,259 shares of the construction company’s stock worth $35,978,000 after acquiring an additional 281,049 shares during the period. Moore Capital Management LP increased its stake in shares of Fluor by 220.0% during the second quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock worth $27,243,000 after acquiring an additional 357,521 shares during the period. Finally, Troluce Capital Advisors LLC acquired a new position in Fluor during the 1st quarter worth approximately $18,660,000. 88.07% of the stock is owned by institutional investors and hedge funds.

Fluor Company Profile

Fluor Corporation is a global engineering and construction company that provides engineering, procurement, construction, maintenance and project-management services. It works with clients to plan and deliver complex projects, and also provides services for facility operations, upgrades and decommissioning. The company serves customers in sectors including energy, chemicals, mining and metals, infrastructure, advanced technologies and life sciences. Through its government-focused work, Fluor also supports federal agencies and government programs, including projects involving environmental remediation and national security.