Fluor (NYSE:FLR) Price Target Increased to $47.00 by Analysts at Citigroup

Fluor (NYSE:FLR) had its target price hoisted by Citigroup from $45.00 to $47.00 in a report issued on Monday morning, Benzinga reports. Citigroup currently has a neutral rating on the construction company’s stock.

Several other research firms have also issued reports on FLR. Truist Financial reissued a buy rating and set a $46.00 price objective on shares of Fluor in a research note on Monday, March 25th. KeyCorp assumed coverage on Fluor in a research note on Wednesday, January 10th. They set a sector weight rating for the company. Finally, TheStreet lowered Fluor from a b- rating to a c rating in a research note on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $43.17.

Fluor Price Performance

Fluor stock opened at $39.49 on Monday. Fluor has a one year low of $25.69 and a one year high of $43.24. The business has a fifty day moving average price of $39.53 and a 200-day moving average price of $38.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $6.72 billion, a P/E ratio of 70.52, a PEG ratio of 3.11 and a beta of 2.12.

Fluor (NYSE:FLR) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $4.11 billion. Fluor had a return on equity of 24.25% and a net margin of 0.90%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. As a group, equities research analysts forecast that Fluor will post 2.84 EPS for the current year.

Institutional Investors Weigh In On Fluor

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Fluor by 1.4% in the third quarter. Wellington Management Group LLP now owns 17,807,780 shares of the construction company’s stock worth $653,546,000 after buying an additional 243,371 shares during the period. Vanguard Group Inc. increased its holdings in shares of Fluor by 18.6% in the fourth quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock worth $668,278,000 after buying an additional 2,670,473 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Fluor by 12.6% in the third quarter. Victory Capital Management Inc. now owns 1,975,324 shares of the construction company’s stock worth $72,494,000 after buying an additional 220,962 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Fluor by 13.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,480,056 shares of the construction company’s stock worth $57,974,000 after buying an additional 177,907 shares during the period. Finally, Mackay Shields LLC purchased a new position in shares of Fluor in the third quarter worth about $31,143,000. Institutional investors own 88.07% of the company’s stock.

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.