Fluor Corporation (NYSE:FLR) Receives $54.33 Average Price Target from Brokerages

Fluor Corporation (NYSE:FLR) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $54.3333.

Several brokerages recently issued reports on FLR. Citigroup increased their price objective on Fluor from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wall Street Zen raised Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. DA Davidson increased their price objective on Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, UBS Group reiterated a “buy” rating and issued a $57.00 target price on shares of Fluor in a research note on Thursday, February 19th.

Insiders Place Their Bets

In related news, insider Michael E. Alexander sold 3,387 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $53.07, for a total value of $179,748.09. Following the completion of the sale, the insider directly owned 68,664 shares in the company, valued at approximately $3,643,998.48. This represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anthony Morgan sold 3,387 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $53.09, for a total value of $179,815.83. Following the transaction, the insider owned 45,999 shares in the company, valued at approximately $2,442,086.91. This trade represents a 6.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,110 shares of company stock worth $1,168,920 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluor

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Fluor by 8.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,137,672 shares of the construction company’s stock valued at $174,077,000 after purchasing an additional 328,122 shares during the last quarter. SG Americas Securities LLC boosted its stake in Fluor by 472.4% during the 3rd quarter. SG Americas Securities LLC now owns 122,727 shares of the construction company’s stock valued at $5,163,000 after purchasing an additional 101,288 shares during the period. Pacific Heights Asset Management LLC grew its holdings in Fluor by 35.4% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 325,000 shares of the construction company’s stock valued at $13,673,000 after buying an additional 85,000 shares during the last quarter. Quadrant Private Wealth Management LLC acquired a new stake in Fluor in the 3rd quarter valued at approximately $3,475,000. Finally, Goodman Financial Corp bought a new position in Fluor in the 4th quarter worth approximately $7,610,000. Institutional investors own 88.07% of the company’s stock.

Fluor Price Performance

Shares of FLR opened at $48.55 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of -62.24, a P/E/G ratio of 1.19 and a beta of 1.30. The business’s 50-day moving average is $47.77 and its 200-day moving average is $45.50. Fluor has a fifty-two week low of $32.44 and a fifty-two week high of $57.50.

Fluor (NYSE:FLR) last released its quarterly earnings data on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the company posted $0.48 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts expect that Fluor will post 2.5 EPS for the current fiscal year.

About Fluor

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.