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

PNC Financial Services Group Inc. lowered its stake in TechnipFMC plc (NYSE:FTI) by 81.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,801 shares of the oil and gas company’s stock after selling 99,102 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TechnipFMC were worth $723,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FTI. New York State Teachers Retirement System acquired a new position in TechnipFMC in the first quarter valued at about $33,000. Quarry LP lifted its position in TechnipFMC by 95.9% in the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company’s stock valued at $74,000 after buying an additional 1,248 shares during the last quarter. GAMMA Investing LLC lifted its position in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 614 shares during the last quarter. Farther Finance Advisors LLC lifted its position in TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company’s stock valued at $92,000 after buying an additional 2,219 shares during the last quarter. Finally, Acuitas Investments LLC lifted its position in TechnipFMC by 13.4% in the first quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

FTI has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Susquehanna increased their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Citigroup reissued a “buy” rating and set a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Finally, Evercore ISI increased their price target on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.92.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the transaction, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Up 0.1%

FTI stock opened at $34.98 on Tuesday. The company’s 50 day moving average price is $34.55 and its 200 day moving average price is $30.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. TechnipFMC plc has a fifty-two week low of $22.11 and a fifty-two week high of $38.05. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.15 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC’s dividend payout ratio is presently 9.43%.

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.