Fluor Corporation $FLR Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Fluor Corporation (NYSE:FLR) by 3.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 362,226 shares of the construction company’s stock after acquiring an additional 13,082 shares during the period. Principal Financial Group Inc.’s holdings in Fluor were worth $16,898,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in FLR. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Fluor in the fourth quarter valued at approximately $1,350,000. Pacific Heights Asset Management LLC boosted its position in shares of Fluor by 23.1% during the fourth quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the construction company’s stock worth $15,852,000 after buying an additional 75,000 shares during the period. Mutual Advisors LLC purchased a new position in shares of Fluor during the fourth quarter worth $863,000. CWM LLC grew its stake in shares of Fluor by 68.1% in the fourth quarter. CWM LLC now owns 91,639 shares of the construction company’s stock valued at $3,632,000 after buying an additional 37,112 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Fluor by 16.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 172,427 shares of the construction company’s stock valued at $6,833,000 after buying an additional 23,892 shares during the period. 88.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings raised Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research lowered shares of Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Citigroup reduced their price target on shares of Fluor from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Truist Financial raised their price objective on shares of Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird lifted their price objective on shares of Fluor from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $57.20.

Fluor Trading Up 0.4%

NYSE:FLR opened at $51.62 on Thursday. The firm has a market cap of $7.21 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. The stock has a fifty day moving average price of $49.38 and a 200 day moving average price of $47.94. Fluor Corporation has a 12-month low of $37.62 and a 12-month high of $57.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.36.

Fluor (NYSE:FLR) last issued its quarterly earnings results on Friday, May 8th. The construction company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.52). The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Fluor had a return on equity of 5.90% and a net margin of 2.30%.Fluor’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. Sell-side analysts anticipate that Fluor Corporation will post 2.63 earnings per share for the current fiscal year.

Fluor Company Profile

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.