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

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

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

Fluor Price Performance

Fluor stock traded down $1.93 during midday trading on Tuesday, hitting $47.89. The company’s stock had a trading volume of 1,269,348 shares, compared to its average volume of 1,660,696. 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 12 month low of $35.04 and a 12 month high of $60.10. The stock’s 50-day moving average price is $49.80 and its 200-day moving average price is $46.55. The company has a market capitalization of $8.20 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.90.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.25). The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.74 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. Analysts anticipate that Fluor will post 2.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluor

In related news, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction 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 transaction, the chief financial officer now owns 57,834 shares in the company, valued at approximately $2,751,163.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Fluor news, 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 completion of the sale, the chief financial officer now directly owns 41,908 shares in the company, valued at $2,107,972.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $729,485.95. Following the transaction, the chief financial officer now directly owns 57,834 shares of the company’s stock, 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 three months, insiders sold 44,261 shares of company stock valued at $2,156,604. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in Fluor by 143.4% in the 1st quarter. SG Americas Securities LLC now owns 11,297 shares of the construction company’s stock worth $478,000 after purchasing an additional 6,655 shares in the last quarter. Swiss National Bank grew its position in shares of Fluor by 19.1% in the first 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 period. Russell Investments Group Ltd. boosted its holdings 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. ProShare Advisors LLC grew its holdings in Fluor by 4.2% during the 1st 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 in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in 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 acquiring an additional 4,910 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Company Profile

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.