Fluor (NYSE:FLR) Stock Rating Lowered by Zacks Research

Fluor (NYSE:FLR) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also recently commented on FLR. Robert W. Baird raised their target price on shares of Fluor from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Truist Financial boosted their price target on shares of Fluor from $56.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, February 19th. UBS Group reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Fluor in a research note on Thursday, February 19th. DA Davidson lifted their price objective on shares of Fluor from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Citigroup increased their target price on Fluor from $57.00 to $61.00 and gave the company a “buy” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $54.33.

Fluor Price Performance

Shares of NYSE FLR traded up $0.96 during mid-day trading on Monday, reaching $48.10. The company had a trading volume of 354,001 shares, compared to its average volume of 2,614,090. The company has a 50-day moving average price of $47.75 and a two-hundred day moving average price of $45.61. The stock has a market cap of $6.88 billion, a PE ratio of -61.75, a P/E/G ratio of 1.20 and a beta of 1.30. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.33. Fluor has a 1-year low of $33.82 and a 1-year high of $57.50.

Fluor (NYSE:FLR) last released its quarterly earnings results on Tuesday, February 17th. The construction company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.27 billion. Fluor had a negative net margin of 0.34% and a positive return on equity of 7.96%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. On average, equities analysts anticipate that Fluor will post 2.75 earnings per share for the current year.

Insider Buying and Selling

In other Fluor news, insider Michael E. Alexander sold 3,387 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.07, for a total value of $179,748.09. Following the transaction, the insider owned 68,664 shares in the company, valued at $3,643,998.48. The trade was a 4.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony Morgan sold 3,387 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $53.09, for a total value of $179,815.83. Following the sale, the insider directly owned 45,999 shares of the company’s stock, valued at $2,442,086.91. This trade represents a 6.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,110 shares of company stock worth $1,168,920. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Fluor

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Fluor by 8.6% during the 3rd 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 in the last quarter. SG Americas Securities LLC boosted its holdings in Fluor by 472.4% in the third quarter. SG Americas Securities LLC now owns 122,727 shares of the construction company’s stock worth $5,163,000 after purchasing an additional 101,288 shares in the last quarter. Pacific Heights Asset Management LLC increased its position in Fluor by 35.4% during the third quarter. Pacific Heights Asset Management LLC now owns 325,000 shares of the construction company’s stock worth $13,673,000 after buying an additional 85,000 shares during the last quarter. Quadrant Private Wealth Management LLC bought a new position in Fluor during the third quarter valued at about $3,475,000. Finally, Goodman Financial Corp acquired a new stake in shares of Fluor in the fourth quarter worth about $7,610,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

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.