Zacks Research upgraded shares of Fluor (NYSE:FLR – Free Report) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.
A number of other brokerages have also recently commented on FLR. Citigroup upped their target price on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird raised their price target on Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group boosted their price target on Fluor from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fluor in a research note on Friday, August 7th. Finally, Barclays lifted 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. Four equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.
Read Our Latest Stock Analysis on FLR
Fluor Stock Performance
Fluor (NYSE:FLR – Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. Fluor’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts predict that Fluor will post 2.66 EPS for the current year.
Insider Buying and Selling at Fluor
In other news, insider Pierre Edward Bechelany sold 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $55.24, for a total transaction of $276,200.00. Following the transaction, the insider directly owned 36,064 shares in the company, valued at $1,992,175.36. The trade was a 12.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Fluor
A number of institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new position in shares of Fluor during the 2nd quarter worth approximately $25,000. Assetmark Inc. boosted its stake in shares of Fluor by 249.0% in the fourth quarter. Assetmark Inc. now owns 677 shares of the construction company’s stock valued at $27,000 after buying an additional 483 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Fluor during the fourth quarter worth $27,000. Larson Financial Group LLC raised its position in Fluor by 6,116.7% in the third quarter. Larson Financial Group LLC now owns 746 shares of the construction company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Fluor in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.
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.
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