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TechnipFMC PLC (NYSE:FTI) Shares Acquired by Charles Schwab Investment Management Inc.

By September 18, 2019 No Comments

Charles Schwab Investment Management Inc. boosted its stake in TechnipFMC PLC (NYSE:FTI) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,679,734 shares of the oil and gas company’s stock after acquiring an additional 38,481 shares during the period. Charles Schwab Investment Management Inc. owned 0.37% of TechnipFMC worth $43,573,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in TechnipFMC in the 1st quarter worth about $28,000. Meeder Asset Management Inc. raised its position in TechnipFMC by 217.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,344 shares of the oil and gas company’s stock worth $35,000 after buying an additional 921 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in TechnipFMC in the 2nd quarter worth about $39,000. Rockefeller Capital Management L.P. raised its position in TechnipFMC by 116.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,728 shares of the oil and gas company’s stock worth $45,000 after buying an additional 929 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in TechnipFMC in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 76.08% of the company’s stock.

A number of equities analysts have weighed in on FTI shares. AltaCorp Capital reissued an “outperform” rating on shares of TechnipFMC in a research report on Thursday, June 20th. BMO Capital Markets set a $32.00 price target on shares of TechnipFMC and gave the company a “buy” rating in a research report on Friday, July 26th. Berenberg Bank reaffirmed a “buy” rating and set a $26.00 price target on shares of TechnipFMC in a research report on Tuesday, August 27th. 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 upped their price target on shares of TechnipFMC from $27.40 to $29.50 and gave the company 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 issued a hold rating and seventeen have issued a buy rating to the company’s stock. TechnipFMC has an average rating of “Buy” and a consensus target price of $30.50.

FTI stock traded down $0.88 during trading on Tuesday, reaching $24.88. 3,305,752 shares of the company traded hands, compared to its average volume of 3,873,189. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.04 and a current ratio of 1.18. TechnipFMC PLC has a 12 month low of $18.20 and a 12 month high of $32.91. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 1.28 and a beta of 1.50. The business has a 50 day simple moving average of $24.94 and a 200 day simple moving average of $24.03.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. The company 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%. TechnipFMC’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. As a group, research analysts forecast that TechnipFMC PLC will post 1.27 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, August 19th.

TechnipFMC 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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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