DUTCH ASSET Corp Acquires New Stake in TechnipFMC plc $FTI

DUTCH ASSET Corp bought a new stake in TechnipFMC plc (NYSE:FTIFree Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 14,738 shares of the oil and gas company’s stock, valued at approximately $657,000.

Several other institutional investors and hedge funds have also bought and sold shares of FTI. Harbor Investment Advisory LLC purchased a new position in TechnipFMC during the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC in the 4th quarter worth approximately $41,000. Finally, Torren Management LLC purchased a new stake in TechnipFMC in the 4th quarter worth approximately $45,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. Barclays raised their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Susquehanna upped their target price on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

View Our Latest Analysis on TechnipFMC

Insider Buying and Selling

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Trading Down 0.2%

Shares of FTI opened at $65.05 on Friday. The stock has a market capitalization of $25.93 billion, a PE ratio of 24.83, a P/E/G ratio of 1.40 and a beta of 0.69. The company’s fifty day moving average is $71.14 and its 200 day moving average is $61.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78.

TechnipFMC (NYSE:FTIGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business earned $0.33 earnings per share. TechnipFMC’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

About TechnipFMC

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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