Wellington Management Group LLP boosted its holdings in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 28.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 788,158 shares of the oil and gas company’s stock after acquiring an additional 174,339 shares during the quarter. Wellington Management Group LLP owned about 0.20% of TechnipFMC worth $52,255,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of TechnipFMC during the 2nd quarter worth about $3,081,514,000. AQR Capital Management LLC increased its position 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 acquiring an additional 3,549,839 shares during the last quarter. State Street Corp raised its stake in shares of 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 period. Invesco Ltd. lifted its holdings in shares of TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after acquiring an additional 4,437,960 shares during the last quarter. Finally, Boston Partners boosted its position 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. Institutional investors and hedge funds own 96.58% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on FTI shares. Susquehanna dropped their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Barclays lifted 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.64.
Insider Transactions at TechnipFMC
In other news, Director Eric Mullins acquired 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.
TechnipFMC Stock Performance
Shares of FTI stock opened at $79.91 on Friday. The stock’s 50-day moving average price is $73.10 and its 200 day moving average price is $70.43. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $31.34 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.70.
TechnipFMC (NYSE:FTI – Get Free Report) last announced 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. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. As a group, equities research analysts forecast that TechnipFMC plc will post 3.17 EPS for the current year.
TechnipFMC Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, August 18th. TechnipFMC’s payout ratio is currently 6.94%.
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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