Principal Financial Group Inc. Has $631,000 Position in TechnipFMC plc (NYSE:FTI)

Principal Financial Group Inc. reduced its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 84.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,818 shares of the oil and gas company's stock after selling 117,133 shares during the period. Principal Financial Group Inc.'s holdings in TechnipFMC were worth $631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FTI. Franklin Resources Inc. raised its holdings in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after buying an additional 679,748 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $519,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of TechnipFMC by 971.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 407,638 shares of the oil and gas company's stock valued at $10,692,000 after buying an additional 369,594 shares during the last quarter. ING Groep NV raised its holdings in shares of TechnipFMC by 15.3% during the third quarter. ING Groep NV now owns 865,294 shares of the oil and gas company's stock valued at $22,697,000 after buying an additional 114,600 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $49,273,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FTI. Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their price target for the company from $29.00 to $40.00 in a report on Friday, December 6th. Piper Sandler lifted their price target on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Royal Bank of Canada started coverage on TechnipFMC in a research report on Monday, November 18th. They issued an "outperform" rating and a $37.00 target price for the company. The Goldman Sachs Group started coverage on TechnipFMC in a research report on Friday, December 13th. They issued a "buy" rating and a $38.00 target price for the company. Finally, Evercore ISI upped their target price on TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of "Buy" and a consensus target price of $36.31.

TechnipFMC Price Performance

Shares of NYSE:FTI traded up $0.40 on Friday, reaching $26.71. 8,601,065 shares of the company traded hands, compared to its average volume of 3,725,685. TechnipFMC plc has a fifty-two week low of $21.78 and a fifty-two week high of $33.45. The company's 50 day moving average is $30.40 and its 200-day moving average is $28.63. The stock has a market capitalization of $11.23 billion, a PE ratio of 17.57 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. TechnipFMC's dividend payout ratio (DPR) is presently 10.42%.

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.