Fluor (NYSE:FLR) Price Target Raised to $65.00

Fluor (NYSE:FLR) had its price objective boosted by DA Davidson from $58.00 to $65.00 in a report issued on Tuesday,Benzinga reports. DA Davidson currently has a buy rating on the construction company’s stock. DA Davidson also issued estimates for Fluor’s Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $2.64 EPS and FY2025 earnings at $2.98 EPS.

FLR has been the subject of a number of other reports. KeyCorp boosted their target price on Fluor from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Citigroup raised Fluor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. Barclays upped their price target on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Robert W. Baird raised their price objective on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, UBS Group increased their target price on Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.29.

Fluor Trading Up 3.6 %

FLR traded up $1.84 during midday trading on Tuesday, reaching $52.64. 1,066,355 shares of the company were exchanged, compared to its average volume of 1,684,417. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market capitalization of $9.03 billion, a P/E ratio of 33.88, a PEG ratio of 3.93 and a beta of 1.90. The stock’s 50-day simple moving average is $49.98 and its 200 day simple moving average is $46.65. Fluor has a one year low of $35.04 and a one year high of $60.10.

Fluor (NYSE:FLR) last issued its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a net margin of 1.64% and a return on equity of 20.05%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. As a group, analysts forecast that Fluor will post 2.62 earnings per share for the current fiscal year.

Insider Activity at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 11,619 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $50.30, for a total transaction of $584,435.70. Following the sale, the chief financial officer now directly owns 41,908 shares of the company’s stock, valued at approximately $2,107,972.40. This represents a 21.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 31,261 shares of company stock valued at $1,528,574. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of Fluor by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 33,922 shares of the construction company’s stock worth $1,618,000 after acquiring an additional 1,324 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Fluor in the third quarter valued at $426,000. ClearAlpha Technologies LP bought a new position in shares of Fluor in the third quarter valued at about $249,000. Benjamin Edwards Inc. bought a new stake in shares of Fluor during the 3rd quarter worth about $1,161,000. Finally, Atom Investors LP acquired a new position in Fluor in the 3rd quarter valued at about $3,746,000. 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.