Principal Financial Group Inc. Sells 215,807 Shares of Fluor Co. (NYSE:FLR)

Principal Financial Group Inc. trimmed its holdings in Fluor Co. (NYSE:FLR) by 25.1% in the 4th quarter, according to its most recent filing 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 reporting period.

Several other large investors also recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in Fluor by 1.7% in the 4th quarter. Rhumbline Advisers now owns 547,402 shares of the construction company’s stock worth $26,998,000 after buying an additional 9,338 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Fluor by 28.8% in the 4th quarter. Vontobel Holding Ltd. now owns 11,284 shares of the construction company’s stock worth $557,000 after buying an additional 2,524 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Fluor by 140.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 13,250 shares of the construction company’s stock worth $653,000 after buying an additional 7,743 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Fluor in the 4th quarter worth about $33,000. Finally, Silver Oak Securities Incorporated bought a new stake in Fluor in the 4th quarter worth about $432,000. 88.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FLR has been the subject of a number of recent research reports. StockNews.com upgraded Fluor from a “hold” rating to a “buy” rating in a research note on Thursday. KeyCorp boosted their price target on Fluor from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. DA Davidson cut their price target on Fluor from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday. Baird R W downgraded Fluor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird cut their price target on Fluor from $58.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.43.

Insider Activity at Fluor

In related news, insider Thomas P. D’agostino sold 7,681 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $56.39, for a total value of $433,131.59. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark E. Fields sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $56.63, for a total value of $2,831,500.00. Following the completion of the transaction, the insider now directly owns 147,045 shares in the company, valued at approximately $8,327,158.35. This represents a 25.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Fluor Trading Down 5.3 %

Shares of NYSE:FLR opened at $37.73 on Friday. The stock has a 50 day moving average of $48.66 and a 200 day moving average of $50.01. The company has a market cap of $6.37 billion, a PE ratio of 3.10, a price-to-earnings-growth ratio of 3.23 and a beta of 1.89. The company has a current ratio of 1.69, a quick ratio of 1.77 and a debt-to-equity ratio of 0.28. Fluor Co. has a 12-month low of $35.04 and a 12-month high of $60.10.

Fluor (NYSE:FLR) last announced its quarterly earnings data 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 company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.42 billion. Fluor had a net margin of 13.14% and a return on equity of 15.14%. As a group, equities research analysts expect 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.