Chase Investment Counsel Corp boosted its position in TechnipFMC plc (NYSE:FTI – Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 189,369 shares of the oil and gas company’s stock after purchasing an additional 11,466 shares during the quarter. TechnipFMC comprises about 3.4% of Chase Investment Counsel Corp’s holdings, making the stock its 4th largest position. Chase Investment Counsel Corp’s holdings in TechnipFMC were worth $13,091,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after buying an additional 3,549,839 shares during the period. State Street Corp lifted its stake in shares of TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares during the period. Invesco Ltd. boosted its holdings in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Boston Partners grew its position in shares of TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after purchasing an additional 192,549 shares during the period. Finally, Geode Capital Management LLC increased its stake in TechnipFMC by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after purchasing an additional 193,244 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.
TechnipFMC Stock Up 3.5%
Shares of TechnipFMC stock opened at $74.54 on Wednesday. The company has a fifty day moving average price of $69.31 and a 200 day moving average price of $65.69. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70.
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 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%.
Analysts Set New Price Targets
FTI has been the subject of several recent analyst reports. Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 14th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Susquehanna decreased their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.64.
Read Our Latest Stock Report on TechnipFMC
About TechnipFMC
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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