DA Davidson Raises Fluor (NYSE:FLR) Price Target to $65.00

Fluor (NYSE:FLRGet Free Report) had its price objective boosted by equities researchers at DA Davidson from $58.00 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. DA Davidson’s target price would indicate a potential upside of 29.05% from the company’s current price. DA Davidson also issued estimates for Fluor’s Q4 2024 earnings at $0.79 EPS and FY2025 earnings at $2.98 EPS.

FLR has been the topic of several other reports. Robert W. Baird upped their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $65.00 in a report on Tuesday, October 22nd. UBS Group upped their price objective on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp upped their price objective on Fluor from $57.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Truist Financial increased their price target on Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.29.

Read Our Latest Analysis on FLR

Fluor Stock Performance

Shares of FLR stock opened at $50.37 on Tuesday. Fluor has a 1-year low of $35.04 and a 1-year high of $60.10. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 33.58, a P/E/G ratio of 2.32 and a beta of 1.90. The stock’s fifty day simple moving average is $49.89 and its 200-day simple moving average is $46.63.

Fluor (NYSE:FLRGet Free Report) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.25). Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Fluor will post 2.61 earnings per share for the current fiscal year.

Insider Activity at Fluor

In related news, CFO Joseph L. Brennan sold 15,335 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares in the company, valued at $2,751,163.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph L. Brennan sold 11,619 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $50.30, for a total value of $584,435.70. Following the transaction, the chief financial officer now owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,261 shares of company stock worth $1,528,574 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Fluor

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in Fluor by 143.4% during the first quarter. SG Americas Securities LLC now owns 11,297 shares of the construction company’s stock worth $478,000 after acquiring an additional 6,655 shares during the last quarter. Swiss National Bank lifted its position in Fluor by 19.1% during the first quarter. Swiss National Bank now owns 336,400 shares of the construction company’s stock worth $14,223,000 after acquiring an additional 53,900 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Fluor by 19.8% during the first quarter. Russell Investments Group Ltd. now owns 226,306 shares of the construction company’s stock worth $9,568,000 after acquiring an additional 37,435 shares during the last quarter. ProShare Advisors LLC lifted its position in Fluor by 4.2% during the first quarter. ProShare Advisors LLC now owns 33,955 shares of the construction company’s stock worth $1,436,000 after acquiring an additional 1,369 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Fluor by 12.1% during the first 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 acquiring an additional 4,910 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

About Fluor

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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.

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