Fluor (NYSE:FLR) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Fluor (NYSE:FLR) in a report published on Monday, Benzinga reports. Truist Financial currently has a $47.00 price target on the construction company’s stock, up from their previous price target of $46.00.

FLR has been the topic of several other research reports. Citigroup lifted their price target on Fluor from $45.00 to $47.00 and gave the company a neutral rating in a research note on Monday, April 22nd. Robert W. Baird lifted their target price on Fluor from $42.00 to $46.00 and gave the company an outperform rating in a research report on Monday. TheStreet cut shares of Fluor from a b- rating to a c rating in a report on Wednesday, February 21st. Finally, KeyCorp started coverage on shares of Fluor in a report on Wednesday, January 10th. They set a sector weight rating on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $44.00.

Fluor Trading Up 1.8 %

FLR opened at $39.04 on Monday. 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 twelve month low of $25.69 and a twelve month high of $43.24. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 3.08 and a beta of 2.11. The company has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $38.48.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLR. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fluor by 22.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,604 shares of the construction company’s stock valued at $830,000 after acquiring an additional 4,158 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fluor by 4.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,494 shares of the construction company’s stock valued at $2,367,000 after buying an additional 2,786 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of Fluor by 12.0% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 120,189 shares of the construction company’s stock valued at $4,411,000 after buying an additional 12,841 shares during the period. Carmel Capital Partners LLC bought a new position in shares of Fluor during the third quarter worth about $37,000. Finally, Fifth Third Bancorp lifted its stake in shares of Fluor by 32.7% in the third quarter. Fifth Third Bancorp now owns 1,505 shares of the construction company’s stock worth $55,000 after acquiring an additional 371 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.