Principal Financial Group Inc. Raises Holdings in Fluor Corporation $FLR

Principal Financial Group Inc. boosted its position in Fluor Corporation (NYSE:FLR) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 362,226 shares of the construction company’s stock after purchasing an additional 13,082 shares during the quarter. Principal Financial Group Inc. owned about 0.25% of Fluor worth $16,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLR. Starboard Value LP acquired a new stake in shares of Fluor in the fourth quarter valued at about $205,732,000. AQR Capital Management LLC boosted its position in Fluor by 163.1% during the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock worth $204,795,000 after acquiring an additional 3,203,712 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Fluor by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock valued at $178,962,000 after acquiring an additional 377,985 shares in the last quarter. Rubric Capital Management LP raised its holdings in Fluor by 12.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock valued at $189,315,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Fluor by 0.6% in the 4th quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after purchasing an additional 20,210 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.

Fluor Stock Up 0.4%

Shares of NYSE FLR opened at $51.62 on Thursday. The company has a market capitalization of $7.21 billion, a P/E ratio of 30.01, a P/E/G ratio of 1.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.78 and a quick ratio of 1.78. The company has a 50 day simple moving average of $49.38 and a 200-day simple moving average of $47.94. Fluor Corporation has a 1 year low of $37.62 and a 1 year high of $57.50.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, May 8th. The construction company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.52). The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.89 billion. Fluor had a net margin of 2.30% and a return on equity of 5.90%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, equities research analysts predict that Fluor Corporation will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLR. Robert W. Baird boosted their target price on Fluor from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded Fluor from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research lowered Fluor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Truist Financial upped their target price on Fluor from $57.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Citigroup cut their target price on Fluor from $61.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fluor has a consensus rating of “Hold” and a consensus target price of $57.20.

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.