Fluor (NYSE:FLR) Shares Gap Down to $41.24

Fluor Co. (NYSE:FLR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $41.24, but opened at $39.13. Fluor shares last traded at $39.13, with a volume of 1,255,173 shares trading hands.

Analyst Ratings Changes

FLR has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and issued a $46.00 price target on shares of Fluor in a report on Monday, March 25th. KeyCorp started coverage on Fluor in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. TheStreet downgraded Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Finally, Citigroup increased their target price on Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Fluor has a consensus rating of “Hold” and an average price target of $43.17.

Fluor Trading Down 5.7 %

The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 69.46, a PEG ratio of 3.20 and a beta of 2.11. The business’s 50-day moving average price is $39.70 and its 200 day moving average price is $38.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Fluor Co. will post 2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluor

Several institutional investors and hedge funds have recently made changes to their positions in FLR. Janney Montgomery Scott LLC boosted its holdings in shares of Fluor by 6.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 89,204 shares of the construction company’s stock valued at $3,772,000 after buying an additional 5,760 shares during the period. BNP Paribas Financial Markets raised its position in shares of Fluor by 7.9% during the 1st quarter. BNP Paribas Financial Markets now owns 739,254 shares of the construction company’s stock worth $31,256,000 after purchasing an additional 54,228 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fluor by 0.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock worth $2,739,000 after purchasing an additional 286 shares during the last quarter. Retirement Systems of Alabama grew its stake in Fluor by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 213,948 shares of the construction company’s stock worth $9,046,000 after buying an additional 562 shares during the last quarter. Finally, Greenleaf Trust bought a new stake in Fluor in the first quarter valued at $283,000. 88.07% of the stock is owned by institutional investors and hedge funds.

About Fluor

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.