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Fluor (NYSE:FLR) Shares Gap Down - Here's Why

Fluor logo with Construction background

Fluor Co. (NYSE:FLR - Get Free Report)'s share price gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FLR shares. UBS Group lifted their price target on Fluor from $51.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Truist Financial lifted their price target on Fluor from $61.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. DA Davidson lifted their price target on Fluor from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Citigroup raised 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 report on Tuesday, October 22nd. Finally, KeyCorp lifted their price target on Fluor from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.29.

View Our Latest Analysis on Fluor

Fluor Price Performance

The firm has a fifty day moving average of $49.79 and a 200 day moving average of $46.32. The company has a market capitalization of $8.72 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.29 and a beta of 1.90. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.51.

Insider Buying and Selling at Fluor

In other Fluor news, CFO Joseph L. Brennan sold 15,335 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now directly owns 57,834 shares in the company, valued at $2,751,163.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 value of $729,485.95. Following the completion of the sale, the chief financial officer now directly 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph L. Brennan sold 4,012 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $50.01, for a total transaction of $200,640.12. Following the completion of the sale, the chief financial officer now directly owns 53,527 shares of the company's stock, valued at $2,676,885.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,261 shares of company stock worth $2,156,604 in the last three months. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fluor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in Fluor in the 2nd quarter worth approximately $34,000. GAMMA Investing LLC boosted its stake in Fluor by 46.4% in the 2nd quarter. GAMMA Investing LLC now owns 899 shares of the construction company's stock worth $39,000 after purchasing an additional 285 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 worth $41,000 after purchasing an additional 930 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Fluor in the 2nd quarter worth approximately $51,000. Finally, Quest Partners LLC bought a new position in Fluor in the 2nd quarter worth approximately $52,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

About Fluor

(Get Free Report)

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.

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