Fluor (NYSE:FLR) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Fluor (NYSE:FLR) from a hold rating to a buy rating in a report published on Saturday.

A number of other analysts have also recently weighed in on FLR. UBS Group upped their price target on shares of Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Fluor in a research note on Friday, August 7th. Truist Financial reaffirmed a “buy” rating and issued a $71.00 target price (up from $64.00) on shares of Fluor in a research report on Monday, August 10th. Barclays increased their target price on Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Finally, Zacks Research upgraded Fluor from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fluor has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Fluor Stock Performance

NYSE FLR opened at $52.46 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.78. Fluor has a 1-year low of $39.33 and a 1-year high of $57.93. The firm has a market capitalization of $7.02 billion, a P/E ratio of -4.27, a P/E/G ratio of 1.64 and a beta of 1.25. The business’s 50-day simple moving average is $51.14 and its 200-day simple moving average is $48.77.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm posted $0.43 earnings per share. Fluor’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict that Fluor will post 2.66 EPS for the current year.

Insider Buying and Selling

In related news, insider Pierre Edward Bechelany sold 5,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the transaction, the insider owned 36,064 shares of the company’s stock, valued at approximately $1,992,175.36. This represents a 12.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Several institutional investors and hedge funds have recently made changes to their positions in FLR. NewEdge Advisors LLC lifted its position in shares of Fluor by 40.3% during the first quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock worth $361,000 after purchasing an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Fluor by 337.7% in the first quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after buying an additional 12,645 shares during the last quarter. Caxton Associates LLP acquired a new stake in Fluor during the first quarter valued at approximately $266,000. Acadian Asset Management LLC bought a new position in Fluor during the 1st quarter worth approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Fluor by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after buying an additional 248 shares during the last quarter. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

Fluor Company Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.