Fluor Corporation (NYSE:FLR) Stock Has Consensus Target Price of $63.33

Shares of Fluor Corporation (NYSE:FLR) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $63.33.

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Fluor from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Weiss Ratings cut Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Citigroup boosted their price target on Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a report on Monday, August 10th. Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, UBS Group increased their price objective on Fluor from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, August 10th.

Insider Activity at Fluor

In related news, insider Pierre Bechelany sold 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total value of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares of the company’s stock, valued at $1,992,175.36. This trade represents 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GK Wealth Management LLC bought a new position in Fluor in the third quarter worth about $26,000. GAMMA Investing LLC boosted its position in Fluor by 36.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,245 shares of the construction company’s stock valued at $203,000 after acquiring an additional 1,139 shares in the last quarter. CX Institutional purchased a new position in shares of Fluor during the 3rd quarter worth approximately $98,000. Cim Investment Management Inc. raised its position in shares of Fluor by 7.4% in the 2nd quarter. Cim Investment Management Inc. now owns 11,622 shares of the construction company’s stock worth $609,000 after acquiring an additional 803 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in shares of Fluor by 49.8% in the 2nd quarter. Engineers Gate Manager LP now owns 43,131 shares of the construction company’s stock valued at $2,260,000 after purchasing an additional 14,331 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Fluor Stock Performance

NYSE:FLR opened at $50.68 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. Fluor has a fifty-two week low of $39.33 and a fifty-two week high of $58.35. The firm has a market cap of $6.78 billion, a PE ratio of -4.13, a price-to-earnings-growth ratio of 1.05 and a beta of 1.28. The business has a 50 day moving average price of $52.81 and a 200-day moving average price of $50.33.

Fluor (NYSE:FLR) last issued its earnings results on Friday, August 7th. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.92 billion. Fluor had a negative net margin of 12.85% and a positive return on equity of 8.82%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share. Equities research analysts predict that Fluor will post 2.69 earnings per share for the current year.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, construction and project-management company. It provides integrated services for complex capital projects, including design and engineering, procurement, construction, commissioning, operations and maintenance, and program management.

The company serves clients across the energy, chemicals, infrastructure, mining, advanced manufacturing, government and commercial sectors. Its work includes developing and maintaining industrial facilities, transportation and other infrastructure, government and defense projects, and energy-related assets.