KeyCorp Forecasts Strong Price Appreciation for Fluor (NYSE:FLR) Stock

Fluor (NYSE:FLRGet Free Report) had its price objective raised by equities researchers at KeyCorp from $59.00 to $60.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s target price indicates a potential upside of 21.78% from the company’s current price.

Several other equities analysts have also weighed in on the stock. DA Davidson raised their price objective on shares of Fluor from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group raised their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $58.00 price target (up previously from $54.00) on shares of Fluor in a report on Wednesday, December 18th. Baird R W cut Fluor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Truist Financial upped their target price on Fluor from $62.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

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Fluor Trading Down 2.5 %

Shares of NYSE:FLR opened at $49.27 on Wednesday. Fluor has a twelve month low of $35.04 and a twelve month high of $60.10. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The firm has a market cap of $8.45 billion, a P/E ratio of 32.85, a P/E/G ratio of 4.27 and a beta of 1.91. The company has a 50 day moving average of $52.83 and a 200-day moving average of $49.73.

Fluor (NYSE:FLRGet Free Report) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark E. Fields sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $56.63, for a total transaction of $2,831,500.00. Following the completion of the sale, the insider now directly owns 147,045 shares of the company’s stock, valued at $8,327,158.35. This trade represents a 25.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the sale, the insider now directly owns 137,974 shares of the company’s stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Fluor

A number of institutional investors have recently added to or reduced their stakes in the business. Aequim Alternative Investments LP increased its holdings in shares of Fluor by 6.0% during the 3rd quarter. Aequim Alternative Investments LP now owns 742,760 shares of the construction company’s stock valued at $35,437,000 after acquiring an additional 41,800 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Fluor by 139.1% during the third quarter. Los Angeles Capital Management LLC now owns 17,174 shares of the construction company’s stock valued at $819,000 after purchasing an additional 9,992 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Fluor by 63.8% in the second quarter. AQR Capital Management LLC now owns 570,368 shares of the construction company’s stock worth $24,771,000 after buying an additional 222,070 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fluor by 27.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock valued at $100,092,000 after buying an additional 457,220 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Fluor by 67.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 49,152 shares of the construction company’s stock worth $2,345,000 after acquiring an additional 19,836 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Fluor Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Fluor (NYSE:FLR)

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