Illinois Municipal Retirement Fund boosted its holdings in TechnipFMC plc (NYSE:FTI – Free Report) by 63.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,691 shares of the oil and gas company’s stock after buying an additional 13,429 shares during the period. Illinois Municipal Retirement Fund’s holdings in TechnipFMC were worth $2,398,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTI. V Square Quantitative Management LLC bought a new stake in shares of TechnipFMC during the 1st quarter valued at $26,000. Harbor Investment Advisory LLC acquired a new stake in shares of TechnipFMC during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. increased 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 purchasing an additional 340 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new stake in TechnipFMC in the first quarter valued at about $37,000. 96.58% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on FTI shares. Evercore restated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a report on Friday, May 1st. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Barclays boosted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Piper Sandler increased their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.64.
TechnipFMC Trading Up 0.0%
NYSE:FTI opened at $72.09 on Monday. The company has a market cap of $28.74 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.70. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The business has a 50 day moving average price of $69.26 and a two-hundred day moving average price of $65.29. 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 (NYSE:FTI – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts expect that TechnipFMC plc will post 3.01 EPS for the current fiscal year.
TechnipFMC Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s payout ratio is 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.
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