Fluor Co. (NEW)’s (FLR) “Overweight” Rating Reaffirmed at KeyCorp

Fluor Co. (NEW) (NYSE:FLR)‘s stock had its “overweight” rating reiterated by analysts at KeyCorp in a research report issued to clients and investors on Wednesday. They presently have a $64.00 price objective on the construction company’s stock, up from their prior price objective of $61.00. KeyCorp’s target price suggests a potential upside of 9.12% from the stock’s previous close. KeyCorp also issued estimates for Fluor Co. (NEW)’s FY2020 earnings at $4.18 EPS.

Several other brokerages also recently weighed in on FLR. TheStreet raised Fluor Co. (NEW) from a “c+” rating to a “b” rating in a research report on Thursday, December 21st. Canaccord Genuity reaffirmed a “buy” rating and set a $54.00 price target on shares of Fluor Co. (NEW) in a research report on Monday, November 6th. Robert W. Baird raised Fluor Co. (NEW) from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $61.00 in a research report on Wednesday, January 3rd. Barclays started coverage on Fluor Co. (NEW) in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $54.00 price target on the stock. Finally, ValuEngine downgraded Fluor Co. (NEW) from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Fluor Co. (NEW) has a consensus rating of “Hold” and an average price target of $55.69.

Shares of Fluor Co. (FLR) traded up $1.22 on Wednesday, reaching $58.65. The company’s stock had a trading volume of 342,582 shares, compared to its average volume of 1,589,791. The firm has a market cap of $8,120.22, a P/E ratio of 43.22, a P/E/G ratio of 2.77 and a beta of 1.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 1.18. Fluor Co. has a 12 month low of $37.03 and a 12 month high of $62.09.

Fluor Co. (NEW) (NYSE:FLR) last announced its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.91 billion. Fluor Co. (NEW) had a return on equity of 11.06% and a net margin of 0.98%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. analysts predict that Fluor Co. will post 2.29 earnings per share for the current fiscal year.

In other news, insider Jose Luis M. Bustamante sold 2,750 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $48.63, for a total transaction of $133,732.50. Following the sale, the insider now directly owns 38,757 shares of the company’s stock, valued at approximately $1,884,752.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bruce A. Stanski sold 2,792 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $48.48, for a total transaction of $135,356.16. Following the sale, the chief financial officer now directly owns 40,104 shares in the company, valued at $1,944,241.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,932 shares of company stock worth $288,292. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec lifted its stake in Fluor Co. (NEW) by 10,407.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,679,300 shares of the construction company’s stock valued at $138,386,000 after buying an additional 2,653,800 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Fluor Co. (NEW) by 209.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,902,330 shares of the construction company’s stock valued at $201,554,000 after buying an additional 2,640,432 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Fluor Co. (NEW) by 53.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,000,036 shares of the construction company’s stock valued at $168,402,000 after buying an additional 1,399,145 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Fluor Co. (NEW) in the 3rd quarter valued at about $57,365,000. Finally, OppenheimerFunds Inc. lifted its stake in Fluor Co. (NEW) by 1,076.9% in the 4th quarter. OppenheimerFunds Inc. now owns 811,731 shares of the construction company’s stock valued at $41,926,000 after buying an additional 742,757 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

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Fluor Co. (NEW) Company Profile

Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.

Analyst Recommendations for Fluor Co. (NEW) (NYSE:FLR)

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