Truist Financial Reiterates Buy Rating for Fluor (NYSE:FLR)

Fluor (NYSE:FLR)‘s stock had its “buy” rating reissued by investment analysts at Truist Financial in a report issued on Monday, Benzinga reports. They presently have a $47.00 price target on the construction company’s stock, up from their previous price target of $46.00. Truist Financial’s price objective indicates a potential upside of 22.05% from the company’s current price.

Several other research firms have also recently weighed in on FLR. Citigroup boosted their target price on Fluor from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Robert W. Baird increased their target price on shares of Fluor from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday. TheStreet cut shares of Fluor from a “b-” rating to a “c” rating in a research report on Wednesday, February 21st. Finally, KeyCorp assumed coverage on Fluor in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.

Fluor Stock Down 1.3 %

Shares of Fluor stock opened at $38.51 on Monday. Fluor has a 52-week low of $25.69 and a 52-week high of $43.24. The company has a 50 day moving average of $39.85 and a 200 day moving average of $38.47. The company has a quick ratio of 1.60, a current ratio of 1.67 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.55 billion, a P/E ratio of 22.39, a P/E/G ratio of 3.08 and a beta of 2.11.

Fluor (NYSE:FLR) last posted its earnings results on Friday, May 3rd. The construction company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.07). The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. As a group, research analysts forecast that Fluor will post 2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluor

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Fluor by 0.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,780 shares of the construction company’s stock valued at $2,739,000 after acquiring an additional 286 shares during the last quarter. Lesa Sroufe & Co lifted its holdings in shares of Fluor by 0.6% during the first quarter. Lesa Sroufe & Co now owns 50,950 shares of the construction company’s stock worth $2,154,000 after purchasing an additional 312 shares during the period. Cornercap Investment Counsel Inc. grew its position in Fluor by 2.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 14,039 shares of the construction company’s stock valued at $550,000 after buying an additional 326 shares during the last quarter. Parallel Advisors LLC increased its stake in Fluor by 19.6% in the 4th quarter. Parallel Advisors LLC now owns 2,053 shares of the construction company’s stock valued at $80,000 after buying an additional 337 shares during the period. Finally, Fifth Third Bancorp raised its position in Fluor by 32.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,505 shares of the construction company’s stock worth $55,000 after buying an additional 371 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other 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.