Fluor (NYSE:FLR) Upgraded by Citigroup to Buy

Citigroup upgraded shares of Fluor (NYSE:FLR) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $65.00 price target on the construction company’s stock, up from their prior price target of $52.00.

Other analysts also recently issued research reports about the company. Barclays boosted their price objective on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. UBS Group boosted their price objective on Fluor from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Truist Financial boosted their price objective on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird upped their target price on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Fluor currently has an average rating of “Moderate Buy” and an average target price of $58.29.

Fluor Price Performance

Shares of NYSE FLR opened at $52.29 on Tuesday. Fluor has a twelve month low of $32.31 and a twelve month high of $55.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 2.18 and a beta of 1.91. The firm has a 50-day moving average of $48.83 and a two-hundred day moving average of $45.45.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a net margin of 2.62% and a return on equity of 25.02%. Fluor’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. As a group, analysts expect that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company’s stock, valued at $2,751,163.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at $2,107,972.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,261 shares of company stock worth $2,156,604. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

A number of large investors have recently added to or reduced their stakes in FLR. Park Avenue Securities LLC bought a new stake in Fluor during the first quarter worth approximately $374,000. Hennessy Advisors Inc. boosted its position in shares of Fluor by 18.0% in the first quarter. Hennessy Advisors Inc. now owns 810,700 shares of the construction company’s stock valued at $34,276,000 after acquiring an additional 123,500 shares during the period. New England Research & Management Inc. bought a new stake in shares of Fluor in the first quarter valued at approximately $208,000. LVW Advisors LLC bought a new stake in shares of Fluor in the first quarter valued at approximately $211,000. Finally, Diversified Trust Co bought a new stake in shares of Fluor in the first quarter valued at approximately $1,368,000. Institutional investors own 88.07% of the company’s stock.

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.