DA Davidson Issues Positive Forecast for Fluor (NYSE:FLR) Stock Price

Fluor (NYSE:FLR) had its target price boosted by investment analysts at DA Davidson from $58.00 to $65.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. DA Davidson’s target price points to a potential upside of 35.73% from the stock’s current price.

FLR has been the subject of several other research reports. Truist Financial upped their price objective on shares of Fluor from $61.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup raised shares of Fluor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $52.00 to $65.00 in a research note on Tuesday, October 22nd. UBS Group boosted their target price on shares of Fluor from $51.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of Fluor from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, Robert W. Baird boosted their target price on shares of Fluor from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.29.

Fluor Trading Down 3.9 %

NYSE:FLR traded down $1.93 during mid-day trading on Tuesday, hitting $47.89. 1,269,348 shares of the stock traded hands, compared to its average volume of 1,660,696. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.21 and a beta of 1.90. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51. Fluor has a 52 week low of $35.04 and a 52 week high of $60.10. The firm’s 50 day moving average is $49.80 and its two-hundred day moving average is $46.55.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, November 8th. The construction company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). Fluor had a net margin of 2.62% and a return on equity of 25.02%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.02 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Fluor will post 2.88 earnings per share for the current year.

Insiders Place Their Bets

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $729,485.95. Following the completion of the sale, the chief financial officer now owns 57,834 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. In other news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $48.31, for a total transaction of $628,030.00. Following the transaction, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph L. Brennan sold 15,335 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,261 shares of company stock valued at $2,156,604. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluor

Several hedge funds and other institutional investors have recently modified their holdings of FLR. Cerity Partners LLC boosted its position in shares of Fluor by 64.0% in the 3rd quarter. Cerity Partners LLC now owns 64,029 shares of the construction company’s stock worth $3,055,000 after purchasing an additional 24,979 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fluor by 27.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,097,931 shares of the construction company’s stock worth $100,092,000 after purchasing an additional 457,220 shares during the period. Intech Investment Management LLC grew its holdings in Fluor by 192.1% during the 3rd quarter. Intech Investment Management LLC now owns 69,505 shares of the construction company’s stock worth $3,316,000 after acquiring an additional 45,706 shares in the last quarter. Advisors Asset Management Inc. raised its position in Fluor by 5.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 77,531 shares of the construction company’s stock valued at $3,699,000 after purchasing an additional 3,690 shares during the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in Fluor during the 3rd quarter worth $491,000. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

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.