PNC Financial Services Group Inc. Has $3.53 Million Position in TechnipFMC plc (NYSE:FTI)

PNC Financial Services Group Inc. reduced its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 42.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,903 shares of the oil and gas company's stock after selling 91,636 shares during the quarter. PNC Financial Services Group Inc.'s holdings in TechnipFMC were worth $3,528,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FTI. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $46,000. Machina Capital S.A.S. acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $211,000. Jackson Creek Investment Advisors LLC acquired a new position in shares of TechnipFMC in the 4th quarter valued at approximately $598,000. Inceptionr LLC lifted its stake in TechnipFMC by 195.2% in the 4th quarter. Inceptionr LLC now owns 32,529 shares of the oil and gas company's stock valued at $941,000 after acquiring an additional 21,509 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in TechnipFMC in the 4th quarter valued at approximately $9,152,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Up 0.2 %

Shares of TechnipFMC stock opened at $26.44 on Friday. The business has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $28.60. TechnipFMC plc has a 1 year low of $22.99 and a 1 year high of $33.45. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 17.40 and a beta of 1.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.14 and a quick ratio of 0.89.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, March 18th. TechnipFMC's dividend payout ratio is 10.42%.

Analysts Set New Price Targets

FTI has been the topic of several research reports. Evercore ISI boosted their target price on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Barclays boosted their target price on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Piper Sandler boosted their target price on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. The Goldman Sachs Group initiated coverage on TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on TechnipFMC in a research note on Monday, November 18th. They issued an "outperform" rating and a $37.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.31.

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Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, CAO David Light sold 10,147 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at $187,472.10. This trade represents a 57.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Justin Rounce sold 42,178 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the transaction, the executive vice president now owns 140,207 shares in the company, valued at $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.06% of the company's stock.

TechnipFMC Company 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.

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