TechnipFMC plc (NYSE:FTI) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in TechnipFMC plc (NYSE:FTI) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 254,474 shares of the oil and gas company’s stock after acquiring an additional 4,554 shares during the period. PNC Financial Services Group Inc.’s holdings in TechnipFMC were worth $5,125,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FTI. Envestnet Asset Management Inc. boosted its stake in shares of TechnipFMC by 50.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 393,317 shares of the oil and gas company’s stock worth $8,000,000 after purchasing an additional 131,432 shares during the last quarter. Invesco Ltd. boosted its position in shares of TechnipFMC by 75.7% in the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after acquiring an additional 5,587,050 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of TechnipFMC in the third quarter worth approximately $522,000. Dark Forest Capital Management LP acquired a new stake in shares of TechnipFMC in the third quarter worth approximately $423,000. Finally, LPL Financial LLC boosted its position in shares of TechnipFMC by 3.7% in the third quarter. LPL Financial LLC now owns 411,890 shares of the oil and gas company’s stock worth $8,320,000 after acquiring an additional 14,648 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of FTI opened at $24.64 on Wednesday. TechnipFMC plc has a 1 year low of $14.60 and a 1 year high of $27.30. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 52.43 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The firm has a fifty day moving average of $25.74 and a 200-day moving average of $22.75.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Monday, May 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America raised their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target on the stock. in a report on Friday, February 23rd. TD Cowen lifted their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Barclays lifted their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.21.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.