Principal Financial Group Inc. Lowers Position in TechnipFMC plc (NYSE:FTI)

Principal Financial Group Inc. lowered its holdings in TechnipFMC plc (NYSE:FTI) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,816 shares of the oil and gas company’s stock after selling 1,002 shares during the period. Principal Financial Group Inc.’s holdings in TechnipFMC were worth $660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acuitas Investments LLC raised its holdings in shares of TechnipFMC by 13.4% during the 1st 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 in the last quarter. KBC Group NV grew its position in TechnipFMC by 2.4% during the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company’s stock worth $575,000 after acquiring an additional 429 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of TechnipFMC by 4.4% during the fourth quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company’s stock valued at $394,000 after purchasing an additional 577 shares during the period. GAMMA Investing LLC boosted its stake in shares of TechnipFMC by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after purchasing an additional 614 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of TechnipFMC by 7.7% during the first quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company’s stock valued at $293,000 after purchasing an additional 657 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FTI. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Citigroup reiterated a “buy” rating and issued a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Barclays lifted their price target on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Sanford C. Bernstein lowered TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

TechnipFMC Stock Performance

NYSE FTI opened at $32.75 on Friday. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.10 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $33.04 and a 200-day moving average price of $30.45. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $35.86.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. TechnipFMC’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.61%. TechnipFMC’s payout ratio is currently 10.53%.

TechnipFMC 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.