Franklin Resources Inc. grew its position in TechnipFMC plc (NYSE:FTI – Free Report) by 9.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,469,329 shares of the oil and gas company’s stock after buying an additional 216,227 shares during the quarter. Franklin Resources Inc.’s holdings in TechnipFMC were worth $109,953,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Independent Advisor Alliance increased its position in TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after acquiring an additional 184 shares during the period. Personal CFO Solutions LLC increased its position in TechnipFMC by 3.0% during the fourth quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock worth $346,000 after acquiring an additional 225 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in TechnipFMC by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock worth $235,000 after acquiring an additional 262 shares during the period. Geneos Wealth Management Inc. increased its position in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the period. Finally, True Wealth Design LLC increased its position in TechnipFMC by 8.6% during the fourth quarter. True Wealth Design LLC now owns 4,495 shares of the oil and gas company’s stock worth $200,000 after acquiring an additional 357 shares during the period. Institutional investors own 96.58% of the company’s stock.
Insider Activity at TechnipFMC
In other news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
TechnipFMC Stock Up 2.5%
TechnipFMC (NYSE:FTI – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the company earned $0.33 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. On average, analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current year.
TechnipFMC Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s payout ratio is currently 7.63%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on FTI shares. TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Evercore reaffirmed an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Barclays boosted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.71.
View Our Latest Stock Report on TechnipFMC
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.
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