PNC Financial Services Group Inc. grew its position in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 254,474 shares of the oil and gas company’s stock after buying an additional 4,554 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of TechnipFMC worth $5,125,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in FTI. Inceptionr LLC raised its position in TechnipFMC by 2.2% in the fourth quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after acquiring an additional 540 shares during the period. State Board of Administration of Florida Retirement System grew its stake in TechnipFMC by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock valued at $2,571,000 after acquiring an additional 660 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of TechnipFMC by 6.8% in the 4th quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock worth $217,000 after buying an additional 683 shares in the last quarter. Janney Capital Management LLC grew its stake in shares of TechnipFMC by 2.8% in the 3rd quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock worth $546,000 after buying an additional 722 shares in the last quarter. Finally, Dfpg Investments LLC grew its stake in shares of TechnipFMC by 2.4% in the 4th quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock worth $623,000 after buying an additional 738 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.
TechnipFMC Price Performance
Shares of FTI opened at $25.84 on Friday. 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 $13.11 and a 1-year high of $27.30. The firm has a 50-day simple moving average of $25.95 and a two-hundred day simple moving average of $22.28. The stock has a market cap of $11.14 billion, a PE ratio of 54.97 and a beta of 1.61.
TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company’s revenue was up 18.9% compared to the same quarter last year. As a group, analysts forecast that TechnipFMC plc will post 1.18 EPS for the current year.
TechnipFMC Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on FTI shares. Bank of America lifted their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research note on Monday, April 15th. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Susquehanna raised their target price on TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.21.
View Our Latest Stock Report on FTI
About TechnipFMC
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.
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Source: defenseworld.net
