UBS Group Raises Fluor (NYSE:FLR) Price Target to $63.00

Fluor (NYSE:FLR) had its target price lifted by UBS Group from $51.00 to $63.00 in a research note published on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Other research analysts have also issued research reports about the stock. DA Davidson increased their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Barclays increased their price target on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Robert W. Baird lifted their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Truist Financial increased their target price on Fluor from $61.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, KeyCorp upgraded Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price target on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.29.

Fluor Price Performance

Shares of NYSE FLR opened at $52.28 on Wednesday. The firm has a market cap of $8.96 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 2.32 and a beta of 1.91. The business’s 50 day moving average is $48.83 and its 200-day moving average is $45.47. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51. Fluor has a 1-year low of $32.31 and a 1-year high of $55.86.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.17. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 EPS. Equities research analysts predict that Fluor will post 2.88 earnings per share for the current year.

Insider Buying and Selling

In other Fluor news, CFO Joseph L. Brennan sold 4,012 shares of Fluor stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the transaction, the chief financial officer now owns 53,527 shares in the company, valued at $2,676,885.27. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Joseph L. Brennan sold 11,619 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $50.30, for a total transaction of $584,435.70. Following the sale, the chief financial officer now owns 41,908 shares of the company’s stock, valued at $2,107,972.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $50.01, for a total value of $200,640.12. Following the completion of the transaction, the chief financial officer now directly owns 53,527 shares of the company’s stock, valued at approximately $2,676,885.27. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 in the last ninety days. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLR. Park Avenue Securities LLC acquired a new position in Fluor in the 1st quarter valued at approximately $374,000. Hennessy Advisors Inc. increased its holdings in 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 purchasing an additional 123,500 shares during the period. New England Research & Management Inc. bought a new position in Fluor during the 1st quarter worth $208,000. LVW Advisors LLC acquired a new position in Fluor during the 1st quarter worth about $211,000. Finally, Diversified Trust Co bought a new stake in shares of Fluor in the 1st quarter valued at about $1,368,000. Institutional investors and hedge funds 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.