PNC Financial Services Group Inc. Raises Stock Position in TechnipFMC plc (NYSE:FTI)

PNC Financial Services Group Inc. increased its stake in TechnipFMC plc (NYSE:FTI) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 254,474 shares of the oil and gas company’s stock after purchasing an additional 4,554 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of TechnipFMC worth $5,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brown Advisory Inc. purchased a new position in shares of TechnipFMC during the 4th quarter worth $830,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of TechnipFMC during the 4th quarter valued at $37,976,000. Cerity Partners LLC purchased a new position in shares of TechnipFMC during the 4th quarter valued at $6,836,000. Natixis Advisors L.P. lifted its stake in shares of TechnipFMC by 198.2% during the 4th quarter. Natixis Advisors L.P. now owns 160,804 shares of the oil and gas company’s stock valued at $3,238,000 after buying an additional 106,884 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of TechnipFMC by 71.1% during the 4th quarter. SG Americas Securities LLC now owns 152,526 shares of the oil and gas company’s stock valued at $3,072,000 after buying an additional 63,378 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of research reports. HSBC downgraded 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. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a report on Friday, April 26th. Bank of America boosted their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Piper Sandler boosted their target price on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.21.

TechnipFMC Price Performance

TechnipFMC stock opened at $24.64 on Wednesday. The stock 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 current ratio of 1.16 and a quick ratio of 0.87. TechnipFMC plc has a 1 year low of $14.60 and a 1 year high of $27.30. The firm has a 50-day moving average of $25.74 and a two-hundred 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 for the quarter, topping 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 firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. The company’s revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were paid a $0.05 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.81%. TechnipFMC’s dividend payout ratio (DPR) is 42.55%.

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.