Fluor (NYSE:FLR) Shares Gap Down – What’s Next?

Fluor Co. (NYSE:FLR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $58.93, but opened at $50.76. Fluor shares last traded at $50.66, with a volume of 2,619,013 shares traded.

Analyst Upgrades and Downgrades

FLR has been the subject of several research reports. Truist Financial lifted 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. 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 boosted their price objective on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 5th. UBS Group raised 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. Finally, DA Davidson upped their price target on Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.29.

Fluor Stock Down 16.1 %

The business’s 50 day simple moving average is $49.79 and its 200 day simple moving average is $46.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $8.47 billion, a PE ratio of 21.56, a P/E/G ratio of 2.29 and a beta of 1.90.

Insider Activity

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

Institutional Investors Weigh In On Fluor

Institutional investors and hedge funds have recently modified their holdings of the company. ORG Partners LLC acquired a new position in Fluor in the 2nd quarter valued at about $34,000. GAMMA Investing LLC lifted its holdings in Fluor by 46.4% during the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company’s stock worth $39,000 after buying an additional 285 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Fluor by 6,642.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 944 shares of the construction company’s stock valued at $41,000 after buying an additional 930 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of Fluor in the second quarter worth $51,000. Finally, Quest Partners LLC purchased a new stake in shares of Fluor during the second quarter worth $52,000. Hedge funds and other 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.