Sunday, June 26, 2022

Director ROSE MATTHEW K acquire 40,000 shares of Fluor Corporation [FLR]

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fluor Corporation shares valued at $1,025,320 were purchased by ROSE MATTHEW K on May 12. At $25.63 per share, ROSE MATTHEW K acquired 40,000 shares. The insider’s holdings grew to 80,764 shares worth approximately $1.88 million following the completion of this transaction.

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Also, HACKETT JAMES T purchased 10,000 shares, netting a total of over 258,400 in proceeds. Following the buying of shares at $25.84 each, the insider now holds 20,000 shares.

Before that, HACKETT JAMES T had added 30,000 shares to its account. In a trade valued at $763,800, the Director bought Fluor Corporation shares for $25.46 each. Upon closing the transaction, the insider’s holdings increased to 30,000 shares, worth approximately $0.23 million.

As published in a research note from Robert W. Baird on February 23, 2022, Fluor Corporation [FLR] has been rated up from a Neutral to an Outperform and the price target has been revised to $29 from $30. This represents a 19.83% premium over Thursday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid November. Earlier on January 21, 2021, Vertical Research upgraded its rating. Their new recommendation was “a Buy” for FLR stock which previously was a “a Hold”.

Analyzing FLR’s Price Performance

On Thursday, Fluor Corporation [NYSE: FLR] plunged -3.97% to $23.25. The stock’s lowest price that day was $22.96, but it reached a high of $24.38 in the same session. During the last five days, there has been a drop of approximately -13.34%. Over the course of the year, Fluor Corporation shares have dropped approximately -6.14%. Shares of the company reached a 52-week high of $31.32 on 04/18/22 and a 52-week low of $19.80 on 02/24/22. A 50-day SMA is recorded $26.86, while a 200-day SMA reached $23.37. Nevertheless, trading volume fell to 2.38 million shares from 2.36 million shares the previous day.

Support And Resistance Levels for Fluor Corporation (FLR)

According to the 24-hour chart, there is a support level at 22.68, which, if violated, would cause prices to drop to 22.11. In the upper region, resistance lies at 24.10. The next price resistance is at 24.95. RSI (Relative Strength Index) is 34.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.58, which suggests the price will decrease in the coming days. Percent R is at 95.82%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Fluor Corporation subject to short interest?

Stocks of Fluor Corporation saw a sharp rise in short interest on May 30, 2022 jumping by 0.97 million shares to 16.38 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 15.41 million shares. A jump of 5.92% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.86 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.86.

Which companies own the most shares of Fluor Corporation (FLR)?

According to BlackRock Fund Advisors filings, the company currently owns 14,938,375 shares, which is about 10.52% of the total FLR shares outstanding. The investor’s shares have appreciated by 310,213 from its previous 13-F filing of 14628162.0 shares. With the completion of the sale transaction, Wellington Management Co. LLP’s stake is now worth $379,684,410. The Vanguard Group, Inc. acquire a 0.79% interest valued at $368.73 million while Fidelity Management & Research Co purchased a 3,241,286 stake. A total of -1,528,187 shares of Fluor Corporation were bought by Newton Investment Management Nort during the quarter, and -1,478,798 were sold by Hotchkis & Wiley Capital Manageme. In its current portfolio, SSgA Funds Management, Inc. holds 4,756,643 shares valued at $134.28 million.

In terms of Fluor Corporation share price expectations, FactSet research, analysts set an average price target of $28.00 in the next 12 months, up nearly 15.65% from the previous closing price of $24.21. Analysts anticipate Fluor Corporation stock to reach $32.00 by 2022, with the lowest price target being $24.00. In spite of this, 11 analysts ranked Fluor Corporation stock as a Hold at the end of 2022. On April 27, 2020, UBS assigned a price target of “a Neutral” to the stock and downgraded coverage with a $11.

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