Fisher Asset Management LLC raised its position in TechnipFMC PLC (NYSE:FTI) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 901,839 shares of the oil and gas company’s stock after buying an additional 83,921 shares during the period. Fisher Asset Management LLC owned approximately 0.20% of TechnipFMC worth $23,394,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of FTI. Geode Capital Management LLC boosted its position in TechnipFMC by 7.2% in 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 buying an additional 333,774 shares during the last quarter. State of Alaska Department of Revenue boosted its position in TechnipFMC by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 35,334 shares of the oil and gas company’s stock valued at $831,000 after buying an additional 1,000 shares during the last quarter. Moody National Bank Trust Division boosted its position in TechnipFMC by 802.0% in the 1st quarter. Moody National Bank Trust Division now owns 1,353 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,203 shares during the last quarter. Retirement Systems of Alabama boosted its position in TechnipFMC by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 198,120 shares of the oil and gas company’s stock valued at $4,660,000 after buying an additional 1,100 shares during the last quarter. Finally, Sciencast Management LP purchased a new position in TechnipFMC in the 1st quarter valued at about $214,000. 73.75% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on FTI shares. Barclays decreased their price objective on shares of TechnipFMC from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. ValuEngine raised shares of TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. BMO Capital Markets set a $32.00 price target on shares of TechnipFMC and gave the stock a “buy” rating in a research report on Friday, July 26th. Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of TechnipFMC in a research report on Thursday, July 11th. Finally, Citigroup increased their price target on shares of TechnipFMC from $27.40 to $29.50 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. TechnipFMC has an average rating of “Buy” and a consensus price target of $30.84.Shares of NYSE FTI opened at $23.10 on Monday. The stock has a market capitalization of $10.76 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.11 and a beta of 1.47. The firm’s 50-day moving average price is $25.29 and its two-hundred day moving average price is $23.82. The company has a quick ratio of 1.04, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. TechnipFMC PLC has a 52-week low of $18.20 and a 52-week high of $32.91.
TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.27 billion. TechnipFMC had a negative net margin of 15.64% and a positive return on equity of 2.76%. TechnipFMC’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. As a group, equities research analysts expect that TechnipFMC PLC will post 1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, August 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.25%.
TechnipFMC Company Profile
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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