Fluor (NYSE:FLR) Price Target Cut to $48.00 by Analysts at UBS Group

Fluor (NYSE:FLR) had its price target decreased by UBS Group from $49.00 to $48.00 in a research report report published on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of Fluor from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Barclays set a $40.00 price objective on Fluor and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. DA Davidson lowered their price target on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Robert W. Baird set a $41.00 price objective on Fluor in a report on Monday. Finally, Truist Financial raised their target price on shares of Fluor from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.43.

Fluor Trading Up 0.6 %

Shares of NYSE FLR opened at $35.84 on Wednesday. The company’s 50 day simple moving average is $35.23 and its 200 day simple moving average is $44.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.69 and a quick ratio of 1.77. The firm has a market capitalization of $5.90 billion, a P/E ratio of 2.94, a P/E/G ratio of 1.36 and a beta of 1.24. Fluor has a fifty-two week low of $29.20 and a fifty-two week high of $60.10.

Fluor (NYSE:FLR) last released its earnings results on Friday, May 2nd. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.23. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.27 billion. Fluor had a return on equity of 15.14% and a net margin of 13.14%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, analysts predict that Fluor will post 2.5 EPS for the current year.

Hedge Funds Weigh In On Fluor

Several hedge funds have recently made changes to their positions in FLR. Wilmington Savings Fund Society FSB acquired a new stake in Fluor in the 3rd quarter valued at $96,000. B. Riley Wealth Advisors Inc. bought a new stake in Fluor during the third quarter worth about $215,000. Principal Financial Group Inc. boosted its position in Fluor by 42.1% during the third quarter. Principal Financial Group Inc. now owns 860,964 shares of the construction company’s stock valued at $41,077,000 after purchasing an additional 254,904 shares during the last quarter. Versant Capital Management Inc grew its stake in Fluor by 2,509.5% in the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company’s stock valued at $27,000 after purchasing an additional 527 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Fluor by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 2,281 shares of the construction company’s stock worth $112,000 after purchasing an additional 213 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

About Fluor

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.