Franklin Resources Inc. Makes New Investment in Fluor Corporation $FLR

Franklin Resources Inc. purchased a new stake in Fluor Corporation (NYSE:FLR) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 40,801 shares of the construction company’s stock, valued at approximately $2,092,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLR. Cetera Investment Advisers boosted its stake in Fluor by 54.7% in the 1st quarter. Cetera Investment Advisers now owns 25,804 shares of the construction company’s stock worth $924,000 after purchasing an additional 9,126 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Fluor during the first quarter worth about $46,000. Headlands Technologies LLC bought a new position in shares of Fluor during the first quarter worth about $297,000. Citigroup Inc. raised its position in Fluor by 22.5% in the 1st quarter. Citigroup Inc. now owns 1,098,784 shares of the construction company’s stock valued at $39,358,000 after buying an additional 202,005 shares during the last quarter. Finally, Cynosure Group LLC bought a new stake in Fluor in the 1st quarter valued at approximately $347,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLR has been the topic of a number of recent research reports. DA Davidson lifted their price objective on shares of Fluor from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 10th. UBS Group lowered their price target on shares of Fluor from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Truist Financial boosted their price target on shares of Fluor from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Wall Street Zen upgraded Fluor from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research raised Fluor from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.57.

Fluor Stock Up 3.4%

Fluor stock opened at $44.09 on Thursday. Fluor Corporation has a fifty-two week low of $29.20 and a fifty-two week high of $57.50. The firm has a market capitalization of $7.11 billion, a PE ratio of 2.24 and a beta of 1.31. The company’s 50-day moving average is $44.83 and its 200-day moving average is $45.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 1.45.

Fluor (NYSE:FLR) last posted its quarterly earnings results on Friday, November 7th. The construction company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.24. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Fluor had a return on equity of 8.32% and a net margin of 21.71%.Fluor’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. Fluor has set its FY 2025 guidance at 2.100-2.250 EPS. Sell-side analysts anticipate that Fluor Corporation will post 2.5 earnings per share for the current year.

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.