Principal Financial Group Inc. Has $41.08 Million Stock Position in Fluor Co. (NYSE:FLR)

Principal Financial Group Inc. increased its stake in shares of Fluor Co. (NYSE:FLR - Free Report) by 42.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 860,964 shares of the construction company's stock after acquiring an additional 254,904 shares during the period. Principal Financial Group Inc. owned 0.50% of Fluor worth $41,077,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Fluor by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 17,112,278 shares of the construction company's stock valued at $723,507,000 after acquiring an additional 51,322 shares during the last quarter. Rubric Capital Management LP boosted its stake in Fluor by 23.6% during the 2nd quarter. Rubric Capital Management LP now owns 3,214,521 shares of the construction company's stock valued at $139,992,000 after purchasing an additional 614,521 shares during the period. Dimensional Fund Advisors LP boosted its stake in Fluor by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,547,243 shares of the construction company's stock valued at $110,930,000 after purchasing an additional 323,111 shares during the period. Hood River Capital Management LLC bought a new stake in Fluor during the 2nd quarter valued at approximately $47,559,000. Finally, King Luther Capital Management Corp boosted its stake in Fluor by 1.8% during the 2nd quarter. King Luther Capital Management Corp now owns 1,052,106 shares of the construction company's stock valued at $45,819,000 after purchasing an additional 18,535 shares during the period. Institutional investors and hedge funds own 88.07% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FLR. UBS Group increased their target price on Fluor from $51.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Barclays increased their target price on Fluor from $39.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday, July 18th. Truist Financial raised their price objective on Fluor from $61.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Citigroup upgraded Fluor from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $52.00 to $65.00 in a research report on Tuesday, October 22nd. Finally, DA Davidson raised their price objective on Fluor from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.29.

Insider Activity at Fluor

In related news, CFO Joseph L. Brennan sold 15,335 shares of the firm's 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 sale, the chief financial officer now directly owns 57,834 shares of the company's stock, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Joseph L. Brennan sold 15,335 shares of the firm's 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 sale, the chief financial officer now directly owns 57,834 shares of the company's stock, valued at $2,751,163.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Joseph L. Brennan sold 4,012 shares of the firm's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $50.01, for a total value of $200,640.12. Following 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 44,261 shares of company stock valued at $2,156,604 in the last three months. Corporate insiders own 1.70% of the company's stock.

Fluor Price Performance

Shares of Fluor stock traded down $1.11 during midday trading on Monday, hitting $49.82. 3,946,894 shares of the company were exchanged, compared to its average volume of 1,662,490. 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 firm has a market cap of $8.53 billion, a P/E ratio of 33.21, a PEG ratio of 2.21 and a beta of 1.90. Fluor Co. has a 52 week low of $35.04 and a 52 week high of $60.10. The firm has a 50 day simple moving average of $49.80 and a 200-day simple moving average of $46.55.

Fluor (NYSE:FLR - Get Free Report) last posted its earnings results on Friday, November 8th. The construction company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.25). The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.74 billion. Fluor had a return on equity of 25.02% and a net margin of 2.62%. Fluor's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.02 EPS. Research analysts forecast that Fluor Co. will post 2.88 earnings per share for the current year.

Fluor 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.