Principal Financial Group Inc. Reduces Stock Position in Fluor Co. (NYSE:FLR)

Principal Financial Group Inc. cut its stake in Fluor Co. (NYSE:FLR - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 645,157 shares of the construction company's stock after selling 215,807 shares during the quarter. Principal Financial Group Inc. owned about 0.38% of Fluor worth $31,819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Fluor by 2,509.5% during the fourth quarter. Versant Capital Management Inc now owns 548 shares of the construction company's stock valued at $27,000 after buying an additional 527 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Fluor in the 4th quarter worth about $33,000. Quarry LP raised its holdings in shares of Fluor by 244.7% during the 3rd quarter. Quarry LP now owns 1,327 shares of the construction company's stock valued at $63,000 after buying an additional 942 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Fluor in the third quarter worth approximately $96,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Fluor in the 3rd quarter worth approximately $96,000. 88.07% of the stock is currently owned by institutional investors.

Insider Activity at Fluor

In other Fluor news, insider Thomas P. D'agostino sold 7,681 shares of Fluor stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $56.39, for a total value of $433,131.59. Following the completion of the transaction, the insider now directly owns 137,974 shares of the company's stock, valued at approximately $7,780,353.86. The trade was a 5.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Robert W. Baird decreased their target price on shares of Fluor from $58.00 to $46.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. KeyCorp lifted their target price on shares of Fluor from $59.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. StockNews.com raised shares of Fluor from a "hold" rating to a "buy" rating in a research report on Thursday, February 20th. Baird R W cut shares of Fluor from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Finally, Citigroup cut their target price on Fluor from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $55.43.

Fluor Stock Down 1.1 %

Shares of NYSE FLR traded down $0.40 during mid-day trading on Tuesday, hitting $36.76. 4,121,889 shares of the stock traded hands, compared to its average volume of 3,264,716. The stock has a fifty day moving average price of $47.98 and a 200-day moving average price of $49.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.77 and a current ratio of 1.69. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 3.02, a PEG ratio of 1.36 and a beta of 1.89. Fluor Co. has a 52 week low of $35.21 and a 52 week high of $60.10.

Fluor (NYSE:FLR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.30). The business had revenue of $4.26 billion for the quarter, compared to analysts' expectations of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. Research analysts anticipate that Fluor Co. will post 2.5 EPS 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.