Principal Financial Group Inc. Raises Position in TechnipFMC plc $FTI

Principal Financial Group Inc. lifted its stake in TechnipFMC plc (NYSE:FTI) by 3.8% in the 1st quarter, HoldingsChannel reports. The firm owned 902,663 shares of the oil and gas company’s stock after acquiring an additional 32,784 shares during the period. Principal Financial Group Inc.’s holdings in TechnipFMC were worth $62,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its holdings in TechnipFMC by 46.5% during the first quarter. Chicago Partners Investment Group LLC now owns 27,039 shares of the oil and gas company’s stock valued at $1,953,000 after purchasing an additional 8,580 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in TechnipFMC by 7.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 692,800 shares of the oil and gas company’s stock valued at $47,893,000 after acquiring an additional 47,000 shares during the period. Diversify Wealth Management LLC lifted its position in shares of TechnipFMC by 19.9% in the first quarter. Diversify Wealth Management LLC now owns 16,956 shares of the oil and gas company’s stock valued at $1,172,000 after acquiring an additional 2,811 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of TechnipFMC in the first quarter worth about $793,000. Finally, Citizens Financial Group Inc. RI grew its position in shares of TechnipFMC by 71.8% during the first quarter. Citizens Financial Group Inc. RI now owns 14,998 shares of the oil and gas company’s stock worth $1,038,000 after purchasing an additional 6,270 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTI has been the topic of a number of research analyst reports. Evercore reissued an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Susquehanna lowered their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Trading Down 0.4%

Shares of FTI opened at $72.01 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The company has a market cap of $28.71 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.54 and a beta of 0.70. The company’s fifty day simple moving average is $69.22 and its 200-day simple moving average is $65.10.

TechnipFMC (NYSE:FTI) last announced its earnings results 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 business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, analysts expect that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s payout ratio is presently 7.63%.

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.