Fluor (NYSE:FLR) Given New $66.00 Price Target at Citigroup

Fluor (NYSE:FLR) had its price target decreased by analysts at Citigroup from $68.00 to $66.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Citigroup‘s price objective points to a potential upside of 31.73% from the stock’s previous close.

FLR has been the subject of a number of other research reports. Weiss Ratings lowered Fluor from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Robert W. Baird reduced their price objective on shares of Fluor from $64.00 to $56.00 and set a “neutral” rating on the stock in a research report on Monday. Barclays upped their price objective on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Fluor from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial reiterated a “buy” rating and set a $62.00 price target (down from $71.00) on shares of Fluor in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.00.

Fluor Trading Up 7.8%

FLR traded up $3.62 during midday trading on Monday, reaching $50.10. 1,088,563 shares of the company’s stock traded hands, compared to its average volume of 2,611,528. Fluor has a 52 week low of $39.33 and a 52 week high of $58.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.83 and a quick ratio of 1.80. The firm has a fifty day moving average of $50.43 and a two-hundred day moving average of $49.34. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of -7.31, a P/E/G ratio of 0.96 and a beta of 1.22.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 6th. The construction company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.03). Fluor had a positive return on equity of 10.52% and a negative net margin of 7.19%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Fluor’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Fluor will post 2.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLR. Fisher Asset Management LLC raised its stake in Fluor by 209.9% during the third quarter. Fisher Asset Management LLC now owns 1,728,795 shares of the construction company’s stock valued at $82,775,000 after buying an additional 1,170,945 shares during the last quarter. Maverick Capital Ltd. bought a new stake in Fluor in the first quarter worth $66,036,000. Russell Investments Group Ltd. grew its stake in shares of Fluor by 59.8% in the third quarter. Russell Investments Group Ltd. now owns 751,259 shares of the construction company’s stock worth $35,978,000 after acquiring an additional 281,049 shares during the last quarter. Moore Capital Management LP grew its stake in shares of Fluor by 220.0% in the second quarter. Moore Capital Management LP now owns 520,000 shares of the construction company’s stock worth $27,243,000 after acquiring an additional 357,521 shares during the last quarter. Finally, Troluce Capital Advisors LLC bought a new position in shares of Fluor during the first quarter valued at $18,660,000. 88.07% of the stock is currently owned by institutional investors.

Fluor Company Profile

Fluor Corporation is a global engineering and construction company that provides engineering, procurement, construction, maintenance and project-management services. It works with clients to plan and deliver complex projects, and also provides services for facility operations, upgrades and decommissioning.

The company serves customers in sectors including energy, chemicals, mining and metals, infrastructure, advanced technologies and life sciences. Through its government-focused work, Fluor also supports federal agencies and government programs, including projects involving environmental remediation and national security.

Founded in 1912, Fluor is headquartered in Irving, Texas, and undertakes projects in the United States and internationally.