Louisiana State Employees Retirement System purchased a new position in shares of TechnipFMC plc (NYSE:FTI – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 117,300 shares of the oil and gas company’s stock, valued at approximately $8,109,000.
A number of other large investors also recently bought and sold shares of the stock. Focus Partners Wealth increased its holdings in shares of TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after buying an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in TechnipFMC by 45.3% in the first 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 last quarter. Sivia Capital Partners LLC grew its position in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after acquiring an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 3,105 shares during the period. Finally, Ossiam increased its stake in TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.
TechnipFMC Stock Up 4.4%
Shares of NYSE:FTI opened at $67.09 on Friday. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69. The company has a 50 day moving average of $70.54 and a two-hundred day moving average of $62.58. TechnipFMC plc has a 52-week low of $31.88 and a 52-week high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.
TechnipFMC Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is presently 7.63%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on FTI. Piper Sandler boosted their target price on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Barclays lifted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.00.
Read Our Latest Analysis 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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