DA Davidson Boosts Fluor (NYSE:FLR) Price Target to $58.00

Fluor (NYSE:FLR) had its price objective boosted by DA Davidson from $50.00 to $58.00 in a research note issued to investors on Monday, Benzinga reports. DA Davidson currently has a buy rating on the construction company’s stock. DA Davidson also issued estimates for Fluor’s Q3 2024 earnings at $0.77 EPS and FY2024 earnings at $2.90 EPS.

Other research analysts also recently issued research reports about the stock. Robert W. Baird boosted their price target on shares of Fluor from $46.00 to $54.00 and gave the stock an outperform rating in a research report on Monday. Citigroup lifted their price objective on shares of Fluor from $47.00 to $52.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Truist Financial lifted their price objective on shares of Fluor from $54.00 to $61.00 and gave the company a buy rating in a research note on Monday. Barclays lifted their price objective 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, KeyCorp upgraded shares of Fluor from a sector weight rating to an overweight rating and set a $57.00 price objective for the company in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Fluor has a consensus rating of Moderate Buy and an average price target of $54.00.

Fluor Stock Up 4.7 %

Shares of NYSE FLR opened at $48.90 on Monday. The company has a market capitalization of $8.37 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.55 and a beta of 1.99. Fluor has a 52-week low of $32.31 and a 52-week high of $51.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.67 and a current ratio of 1.67. The company’s 50 day moving average price is $45.72 and its 200-day moving average price is $41.68.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, August 2nd. The construction company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.34 billion. Fluor had a net margin of 1.97% and a return on equity of 24.98%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. Equities analysts forecast that Fluor will post 2.9 earnings per share for the current year.

Institutional Trading of Fluor

A number of hedge funds and other institutional investors have recently bought and sold shares of FLR. Vanguard Group Inc. increased its stake in Fluor by 18.6% during the 4th quarter. Vanguard Group Inc. now owns 17,060,956 shares of the construction company’s stock valued at $668,278,000 after purchasing an additional 2,670,473 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Fluor during the 4th quarter valued at $26,918,000. King Luther Capital Management Corp increased its stake in Fluor by 84.2% during the 4th quarter. King Luther Capital Management Corp now owns 637,150 shares of the construction company’s stock valued at $24,957,000 after purchasing an additional 291,210 shares in the last quarter. Great Lakes Advisors LLC grew its stake in shares of Fluor by 2,441.9% in the 2nd quarter. Great Lakes Advisors LLC now owns 282,655 shares of the construction company’s stock worth $12,310,000 after acquiring an additional 271,535 shares in the last quarter. Finally, Westend Capital Management LLC bought a new stake in shares of Fluor in the 1st quarter worth $10,472,000. Institutional investors own 88.07% of the company’s stock.

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.