CIBC Asset Management Inc decreased its stake in shares of TechnipFMC PLC (NYSE:FTI) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,586 shares of the oil and gas company’s stock after selling 4,031 shares during the period. CIBC Asset Management Inc’s holdings in TechnipFMC were worth $1,208,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of TechnipFMC by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,967,665 shares of the oil and gas company’s stock valued at $97,077,000 after acquiring an additional 333,774 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of TechnipFMC by 6.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,400 shares of the oil and gas company’s stock worth $198,000 after buying an additional 514 shares during the period. Brinker Capital Inc. bought a new position in shares of TechnipFMC during the 1st quarter worth approximately $324,000. Oppenheimer Asset Management Inc. lifted its position in shares of TechnipFMC by 25.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 98,231 shares of the oil and gas company’s stock worth $2,311,000 after buying an additional 20,052 shares during the period. Finally, LS Investment Advisors LLC raised its position in TechnipFMC by 3.8% in the 1st quarter. LS Investment Advisors LLC now owns 29,834 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 1,103 shares during the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of TechnipFMC in a research report on Thursday, July 11th. TheStreet downgraded TechnipFMC from a “b-” rating to a “c” rating in a research report on Monday, August 19th. ValuEngine upgraded TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. BMO Capital Markets set a $32.00 target price on TechnipFMC and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Barclays dropped their target price on TechnipFMC from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.50.NYSE:FTI traded up $0.15 on Monday, reaching $24.84. The company’s stock had a trading volume of 3,254,872 shares, compared to its average volume of 3,904,421. TechnipFMC PLC has a 1-year low of $18.20 and a 1-year high of $32.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.04 and a current ratio of 1.18. The firm has a market cap of $11.13 billion, a PE ratio of 30.29, a PEG ratio of 1.23 and a beta of 1.47. The business’s 50-day moving average price is $25.15 and its two-hundred day moving average price is $23.86.
TechnipFMC (NYSE:FTI) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.27 billion. TechnipFMC had a positive return on equity of 2.76% and a negative net margin of 15.64%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that TechnipFMC PLC will post 1.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, August 19th.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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