Principal Financial Group Inc. Sells 13,386 Shares of Fluor Corporation $FLR

Principal Financial Group Inc. lowered its stake in shares of Fluor Corporation (NYSE:FLR) by 3.5% during the third quarter, Holdings Channel.com reports. The firm owned 364,561 shares of the construction company’s stock after selling 13,386 shares during the quarter. Principal Financial Group Inc.’s holdings in Fluor were worth $15,337,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Fluor by 30.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 173,285 shares of the construction company’s stock valued at $7,291,000 after buying an additional 40,664 shares in the last quarter. Independent Advisor Alliance boosted its stake in Fluor by 54.2% in the third quarter. Independent Advisor Alliance now owns 18,022 shares of the construction company’s stock valued at $758,000 after acquiring an additional 6,332 shares in the last quarter. Lingohr Asset Management GmbH grew its holdings in Fluor by 792.4% in the third quarter. Lingohr Asset Management GmbH now owns 85,669 shares of the construction company’s stock worth $3,604,000 after purchasing an additional 76,069 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Fluor by 6.9% during the third quarter. Cornerstone Wealth Management LLC now owns 13,193 shares of the construction company’s stock worth $555,000 after purchasing an additional 854 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Fluor by 10.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 94,395 shares of the construction company’s stock valued at $4,061,000 after purchasing an additional 8,768 shares during the last quarter. 88.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FLR shares. UBS Group dropped their target price on Fluor from $56.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Fluor in a research note on Monday, December 29th. DA Davidson increased their price objective on shares of Fluor from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Wall Street Zen raised shares of Fluor from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Truist Financial raised their price target on shares of Fluor from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Fluor presently has a consensus rating of “Hold” and a consensus price target of $49.57.

Fluor Price Performance

Shares of NYSE FLR opened at $48.27 on Tuesday. Fluor Corporation has a 52 week low of $29.20 and a 52 week high of $57.50. The business’s 50 day moving average price is $43.70 and its 200 day moving average price is $44.05. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. The firm has a market cap of $7.78 billion, a P/E ratio of 2.46, a P/E/G ratio of 6.83 and a beta of 1.37.

Fluor (NYSE:FLR) last announced its quarterly earnings data on Friday, November 7th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate 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 net margin of 21.71% and a return on equity of 8.32%. The business’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. On average, sell-side analysts expect that Fluor Corporation will post 2.5 earnings per share for the current year.

About Fluor

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.