PNC Financial Services Group Inc. Has $5.13 Million Stock Position in TechnipFMC plc $FTI

PNC Financial Services Group Inc. increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 135.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,194 shares of the oil and gas company’s stock after buying an additional 42,697 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TechnipFMC were worth $5,129,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new position in TechnipFMC in the first quarter valued at about $1,276,000. DUTCH ASSET Corp raised its stake in TechnipFMC by 18.3% during the first quarter. DUTCH ASSET Corp now owns 17,441 shares of the oil and gas company’s stock worth $1,206,000 after acquiring an additional 2,703 shares in the last quarter. Earned Wealth Advisors LLC lifted its holdings in shares of TechnipFMC by 6.8% in the first quarter. Earned Wealth Advisors LLC now owns 9,101 shares of the oil and gas company’s stock worth $629,000 after acquiring an additional 583 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of TechnipFMC by 7.2% in the first quarter. Meeder Asset Management Inc. now owns 84,432 shares of the oil and gas company’s stock worth $5,837,000 after acquiring an additional 5,675 shares during the last quarter. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $224,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FTI. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Piper Sandler upped their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Performance

NYSE:FTI opened at $74.95 on Tuesday. The stock has a market cap of $29.88 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.61 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $69.56 and its 200-day moving average is $66.50. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $77.92.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Equities research analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.