Fluor (NYSE:FLR) Price Target Raised to $46.00 at Robert W. Baird

Fluor (NYSE:FLR) had its target price increased by Robert W. Baird from $42.00 to $46.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

A number of other brokerages have also commented on FLR. Citigroup raised their price objective on shares of Fluor from $45.00 to $47.00 and gave the stock a neutral rating in a report on Monday, April 22nd. TheStreet lowered shares of Fluor from a b- rating to a c rating in a research note on Wednesday, February 21st. KeyCorp initiated coverage on shares of Fluor in a research note on Wednesday, January 10th. They issued a sector weight rating for the company. Finally, Truist Financial reaffirmed a buy rating and issued a $46.00 target price on shares of Fluor in a research note on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $44.00.

Fluor Price Performance

Shares of FLR stock opened at $38.33 on Monday. The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 3.08 and a beta of 2.11. Fluor has a 12-month low of $25.69 and a 12-month high of $43.24. 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 firm has a fifty day moving average of $39.89 and a 200-day moving average of $38.47.

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

Hedge Funds Weigh In On Fluor

A number of large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its stake in shares of Fluor by 12.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,644 shares of the construction company’s stock worth $1,930,000 after buying an additional 4,910 shares during the last quarter. ProShare Advisors LLC lifted its stake in Fluor by 4.2% in the 1st quarter. ProShare Advisors LLC now owns 33,955 shares of the construction company’s stock valued at $1,436,000 after purchasing an additional 1,369 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Fluor by 19.8% in the 1st quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock valued at $9,568,000 after purchasing an additional 37,435 shares during the last quarter. Swiss National Bank lifted its stake in Fluor by 19.1% in the 1st quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock valued at $14,223,000 after purchasing an additional 53,900 shares during the last quarter. Finally, Lisanti Capital Growth LLC lifted its stake in Fluor by 13.7% in the 1st quarter. Lisanti Capital Growth LLC now owns 122,960 shares of the construction company’s stock valued at $5,199,000 after purchasing an additional 14,805 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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.