Fluor Corporation (NYSE:FLR) Receives Average Rating of “Hold” from Brokerages

Shares of Fluor Corporation (NYSE:FLR) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $57.20.

FLR has been the subject of several analyst reports. Citigroup cut their target price on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Weiss Ratings raised shares of Fluor from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research lowered shares of Fluor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Truist Financial boosted their price objective on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird increased their target price on shares of Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th.

Institutional Investors Weigh In On Fluor

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in Fluor by 40.3% in the 1st quarter. NewEdge Advisors LLC now owns 10,077 shares of the construction company’s stock worth $361,000 after acquiring an additional 2,896 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Fluor by 337.7% during the 1st quarter. Jones Financial Companies Lllp now owns 16,389 shares of the construction company’s stock valued at $587,000 after acquiring an additional 12,645 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Fluor during the first quarter worth about $266,000. Acadian Asset Management LLC bought a new position in shares of Fluor in the first quarter worth approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Fluor by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,782 shares of the construction company’s stock worth $194,000 after purchasing an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Trading Up 3.5%

NYSE:FLR opened at $53.38 on Friday. Fluor has a 1 year low of $37.62 and a 1 year high of $57.50. The stock’s fifty day moving average price is $49.53 and its two-hundred day moving average price is $48.02. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market cap of $7.46 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.63 and a beta of 1.23.

Fluor (NYSE:FLR) last announced its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm posted $0.73 earnings per share. Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, analysts expect that Fluor will post 2.63 EPS for the current year.

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.