PNC Financial Services Group Inc. Boosts Stake in TechnipFMC plc (NYSE:FTI)

PNC Financial Services Group Inc. lifted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 12.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,539 shares of the oil and gas company’s stock after buying an additional 23,893 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of TechnipFMC worth $5,601,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of TechnipFMC by 203.6% during the 3rd quarter. Blue Trust Inc. now owns 1,096 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 735 shares during the last quarter. GAMMA Investing LLC boosted its holdings in TechnipFMC by 73.1% in the second quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 492 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in TechnipFMC in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in TechnipFMC during the 2nd quarter valued at $33,000. Finally, Crewe Advisors LLC bought a new position in shares of TechnipFMC during the 2nd quarter valued at $51,000. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays lifted their price objective on TechnipFMC from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, October 29th. Hsbc Global Res upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets increased their price target on shares of TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Finally, Citigroup boosted their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $33.91.

TechnipFMC Trading Up 2.7 %

Shares of FTI stock opened at $30.83 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. The stock has a fifty day simple moving average of $27.10 and a two-hundred day simple moving average of $26.47. The firm has a market capitalization of $13.12 billion, a PE ratio of 20.28 and a beta of 1.51. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $30.91.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. On average, analysts predict that TechnipFMC plc will post 1.56 EPS for the current fiscal year.

TechnipFMC announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Tuesday, November 19th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.65%. TechnipFMC’s dividend payout ratio is 13.16%.

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.