Principal Financial Group Inc. Purchases 136,207 Shares of Fluor Co. (NYSE:FLR)

Principal Financial Group Inc. grew its stake in shares of Fluor Co. (NYSE:FLRGet Rating) by 28.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 614,669 shares of the construction company’s stock after acquiring an additional 136,207 shares during the quarter. Principal Financial Group Inc. owned about 0.43% of Fluor worth $14,961,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FLR. Victory Capital Management Inc. increased its stake in shares of Fluor by 593.9% in the second quarter. Victory Capital Management Inc. now owns 1,742,027 shares of the construction company’s stock valued at $42,401,000 after buying an additional 1,490,987 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Fluor in the first quarter valued at about $30,868,000. BlackRock Inc. increased its stake in shares of Fluor by 3.5% in the first quarter. BlackRock Inc. now owns 16,937,750 shares of the construction company’s stock valued at $485,943,000 after buying an additional 571,316 shares during the period. Key Square Capital Management LLC acquired a new stake in shares of Fluor in the first quarter valued at about $9,950,000. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new stake in shares of Fluor in the first quarter valued at about $9,425,000. 93.29% of the stock is currently owned by institutional investors.

Fluor Stock Up 0.4 %

Shares of NYSE:FLR opened at $33.76 on Friday. The business’s 50 day simple moving average is $29.25 and its two-hundred day simple moving average is $27.03. The firm has a market cap of $4.80 billion, a P/E ratio of -71.83, a PEG ratio of 1.36 and a beta of 2.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 1.55. Fluor Co. has a 52-week low of $19.80 and a 52-week high of $34.62.

Fluor (NYSE:FLRGet Rating) last announced its quarterly earnings results on Friday, November 4th. The construction company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.35). The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.54 billion. Fluor had a positive return on equity of 7.74% and a negative net margin of 0.19%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, research analysts forecast that Fluor Co. will post 0.99 EPS for the current fiscal year.

Analyst Ratings Changes

FLR has been the topic of several research analyst reports. Barclays upped their target price on Fluor from $24.00 to $30.00 and gave the company an “equal weight” rating in a research report on Sunday, November 6th. Citigroup upped their target price on Fluor from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, November 7th. Bank of America upped their target price on Fluor from $28.00 to $33.00 in a research report on Sunday, November 6th. Credit Suisse Group upped their target price on Fluor from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, November 7th. Finally, Robert W. Baird upped their target price on Fluor from $32.00 to $38.00 in a research report on Monday, November 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.00.

About Fluor

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Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. It operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions, and Other. The Energy Solutions 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.

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Institutional Ownership by Quarter for Fluor (NYSE:FLR)

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