Fluor (NYSE:FLR – Get Free Report) had its target price raised by stock analysts at Robert W. Baird from $49.00 to $65.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. Robert W. Baird’s price objective indicates a potential upside of 13.60% from the company’s current price.
A number of other equities research analysts also recently weighed in on FLR. Zacks Research lowered Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Truist Financial boosted their price target on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Fluor in a research report on Friday. Citigroup reissued a “buy” rating on shares of Fluor in a report on Monday. Finally, Barclays boosted their target price on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.67.
Get Our Latest Stock Report on FLR
Fluor Stock Up 0.4%
Fluor (NYSE:FLR – Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company posted $0.43 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that Fluor will post 2.63 EPS for the current year.
Institutional Investors Weigh In On Fluor
A number of hedge funds and other institutional investors have recently bought and sold shares of FLR. Starboard Value LP bought a new position in shares of Fluor during the fourth quarter worth $205,732,000. AQR Capital Management LLC raised its stake in Fluor by 163.1% during the 4th quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after buying an additional 3,203,712 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Fluor by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock worth $178,962,000 after acquiring an additional 377,985 shares in the last quarter. Rubric Capital Management LP increased its holdings in shares of Fluor by 12.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Fluor by 0.6% in the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after acquiring an additional 20,210 shares in the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.
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.
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