Fluor (NYSE:FLR) Given Buy Rating at UBS Group

Fluor (NYSE:FLR)‘s stock had its “buy” rating reissued by investment analysts at UBS Group in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a $60.00 price objective on the construction company’s stock, up from their prior price objective of $48.00. UBS Group’s price objective points to a potential upside of 20.55% from the company’s current price.

FLR has been the topic of several other research reports. Wall Street Zen cut shares of Fluor from a “buy” rating to a “hold” rating in a research report on Monday, May 5th. Barclays set a $40.00 price objective on Fluor and gave the company an “equal weight” rating in a report on Thursday, February 27th. KeyCorp cut their target price on Fluor from $54.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Citigroup cut their price objective on Fluor from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Truist Financial increased their target price on shares of Fluor from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.14.

Fluor Stock Performance

NYSE:FLR opened at $49.77 on Tuesday. The company has a market cap of $8.20 billion, a P/E ratio of 4.77, a P/E/G ratio of 2.46 and a beta of 1.30. Fluor has a twelve month low of $29.20 and a twelve month high of $60.10. The company’s 50-day moving average price is $40.82 and its 200-day moving average price is $42.61. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.30.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.23. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a net margin of 11.13% and a return on equity of 14.59%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. On average, sell-side analysts forecast that Fluor will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In other news, Chairman David E. Constable sold 40,800 shares of Fluor stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $49.00, for a total transaction of $1,999,200.00. Following the completion of the sale, the chairman now directly owns 870,627 shares of the company’s stock, valued at approximately $42,660,723. The trade was a 4.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alvin C. Collins III sold 18,920 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $45.43, for a total value of $859,535.60. Following the completion of the sale, the insider now owns 64,383 shares in the company, valued at approximately $2,924,919.69. This represents a 22.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. increased its position in shares of Fluor by 329.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,986,095 shares of the construction company’s stock worth $97,954,000 after purchasing an additional 1,523,647 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Fluor by 4,097.7% in the first quarter. Pacer Advisors Inc. now owns 1,332,307 shares of the construction company’s stock valued at $47,723,000 after acquiring an additional 1,300,568 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Fluor by 43.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,646,837 shares of the construction company’s stock valued at $130,630,000 after acquiring an additional 1,104,350 shares during the period. Balyasny Asset Management L.P. boosted its stake in Fluor by 10,125.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,056,946 shares of the construction company’s stock worth $52,129,000 after purchasing an additional 1,046,610 shares during the period. Finally, AQR Capital Management LLC grew its position in Fluor by 145.1% during the 1st quarter. AQR Capital Management LLC now owns 1,625,776 shares of the construction company’s stock worth $57,276,000 after purchasing an additional 962,382 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

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.