Fluor (NYSE:FLR) Price Target Raised to $46.00 at Robert W. Baird

Fluor (NYSE:FLR) had its price target hoisted by equities research analysts at Robert W. Baird from $42.00 to $46.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s target price would suggest a potential upside of 18.25% from the company’s current price.

Several other analysts have also recently weighed in on the stock. TheStreet cut shares of Fluor from a “b-” rating to a “c” rating in a research note on Wednesday, February 21st. Citigroup lifted their target price on Fluor from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Truist Financial reiterated a “buy” rating and set a $46.00 price target on shares of Fluor in a report on Monday, March 25th. Finally, KeyCorp initiated coverage on shares of Fluor in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Fluor Stock Down 5.7 %

FLR stock opened at $38.90 on Monday. The stock has a market capitalization of $6.62 billion, a P/E ratio of 22.62, a P/E/G ratio of 3.08 and a beta of 2.11. The firm has a 50-day simple moving average of $39.73 and a 200-day simple moving average of $38.42. The company has a quick ratio of 1.60, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. Fluor has a 52 week low of $25.69 and a 52 week high of $43.24.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.07). The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4 billion. Fluor had a return on equity of 24.98% and a net margin of 1.97%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Equities analysts forecast that Fluor will post 2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluor

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Fluor by 1.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock valued at $653,546,000 after purchasing an additional 243,371 shares in the last quarter. Vanguard Group Inc. raised its position in Fluor by 18.6% in the 4th quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock valued at $668,278,000 after purchasing an additional 2,670,473 shares in the last quarter. Victory Capital Management Inc. raised its position in Fluor by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,975,324 shares of the construction company’s stock valued at $72,494,000 after purchasing an additional 220,962 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Fluor by 13.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,480,056 shares of the construction company’s stock valued at $57,974,000 after purchasing an additional 177,907 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in Fluor by 18.0% in the 1st 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 in the last quarter. 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.