20,980 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,980 shares of the oil and gas company's stock, valued at approximately $665,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its stake in TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after purchasing an additional 4,314 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of TechnipFMC during the fourth quarter valued at $9,152,000. New York State Teachers Retirement System acquired a new position in shares of TechnipFMC during the first quarter valued at $33,000. Farther Finance Advisors LLC lifted its stake in shares of TechnipFMC by 346.7% during the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after acquiring an additional 2,219 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of TechnipFMC by 8.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 88,101 shares of the oil and gas company's stock valued at $2,792,000 after acquiring an additional 6,947 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTI. Sanford C. Bernstein lowered TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Wall Street Zen lowered TechnipFMC from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup reissued a "buy" rating and issued a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Barclays increased their target price on TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and a consensus target price of $37.31.

TechnipFMC Stock Up 0.8%

Shares of NYSE:FTI traded up $0.30 during mid-day trading on Friday, reaching $35.66. 2,475,817 shares of the stock were exchanged, compared to its average volume of 4,122,299. The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The company has a market cap of $14.95 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.19 and a beta of 1.07. TechnipFMC plc has a one year low of $22.12 and a one year high of $35.86. The stock's 50 day simple moving average is $32.64 and its 200-day simple moving average is $30.29.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company posted $0.22 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. TechnipFMC's payout ratio is 10.53%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.