Future Fund LLC reduced its position in TechnipFMC plc (NYSE:FTI – Free Report) by 30.4% in the 1st quarter, Holdings Channel reports. The firm owned 77,385 shares of the oil and gas company’s stock after selling 33,801 shares during the period. TechnipFMC makes up 1.9% of Future Fund LLC’s holdings, making the stock its 4th biggest holding. Future Fund LLC’s holdings in TechnipFMC were worth $5,350,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in FTI. Focus Partners Wealth lifted its stake in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of TechnipFMC by 76.1% in the 2nd 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. raised its position in TechnipFMC by 132.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Ossiam raised its position in TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have issued reports on FTI. Piper Sandler raised their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a report on Friday, May 1st. Susquehanna decreased their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Citigroup raised their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Weiss Ratings upgraded TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.
TechnipFMC Price Performance
Shares of NYSE:FTI opened at $72.09 on Friday. The business’s 50 day simple moving average is $69.26 and its 200-day simple moving average is $65.15. The firm has a market capitalization of $28.74 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 12 month low of $31.88 and a 12 month high of $77.78.
TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. As a group, equities analysts forecast that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.
TechnipFMC Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date 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 currently 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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