Van ECK Associates Corp trimmed its position in TechnipFMC plc (NYSE:FTI – Free Report) by 16.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,607,901 shares of the oil and gas company’s stock after selling 495,115 shares during the period. Van ECK Associates Corp owned about 0.67% of TechnipFMC worth $172,904,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in TechnipFMC during the second quarter worth approximately $3,081,514,000. AQR Capital Management LLC raised its holdings in TechnipFMC by 26.7% in the 4th 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 acquiring an additional 3,549,839 shares during the last quarter. State Street Corp raised its holdings in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Invesco Ltd. lifted its stake in shares of TechnipFMC by 64.9% during the 4th 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 period. Finally, Boston Partners lifted its stake in shares of TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. Citigroup lifted their price objective on 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 TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average target price of $69.64.
Insider Buying and Selling at TechnipFMC
In related news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.
TechnipFMC Stock Performance
Shares of FTI stock opened at $75.81 on Friday. The company’s fifty day simple moving average is $72.07 and its 200-day simple moving average is $69.86. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market cap of $29.73 billion, a PE ratio of 26.32, a P/E/G ratio of 1.56 and a beta of 0.72.
TechnipFMC (NYSE:FTI – Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.
TechnipFMC Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 6.94%.
TechnipFMC Company 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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