Arrowstreet Capital Limited Partnership Takes $36.72 Million Position in TechnipFMC plc $FTI

Arrowstreet Capital Limited Partnership acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 531,100 shares of the oil and gas company's stock, valued at approximately $36,715,000. Arrowstreet Capital Limited Partnership owned 0.13% of TechnipFMC at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTI. Gibbs Wealth Management boosted its stake in shares of TechnipFMC by 21.0% during the first quarter. Gibbs Wealth Management now owns 22,556 shares of the oil and gas company's stock valued at $1,559,000 after purchasing an additional 3,917 shares in the last quarter. Sei Investments Co. lifted its holdings in TechnipFMC by 33.6% during the first quarter. Sei Investments Co. now owns 551,716 shares of the oil and gas company's stock worth $38,140,000 after buying an additional 138,675 shares during the period. Lido Advisors LLC purchased a new stake in TechnipFMC during the first quarter worth $321,000. Cetera Investment Advisers boosted its position in TechnipFMC by 4.8% during the 1st quarter. Cetera Investment Advisers now owns 109,657 shares of the oil and gas company's stock valued at $7,581,000 after acquiring an additional 4,974 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in TechnipFMC by 34.4% during the 1st quarter. First Trust Advisors LP now owns 447,790 shares of the oil and gas company's stock valued at $30,956,000 after acquiring an additional 114,656 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FTI. Weiss Ratings raised TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday, July 14th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Susquehanna reduced their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Finally, UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.64.

TechnipFMC Stock Performance

Shares of FTI stock opened at $72.22 on Wednesday. The business's fifty day simple moving average is $69.53 and its 200-day simple moving average is $66.66. The company has a market cap of $28.79 billion, a PE ratio of 27.56, a PEG ratio of 1.58 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12-month low of $34.27 and a 12-month high of $77.92.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the firm earned $0.33 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC's payout ratio is presently 7.63%.

About TechnipFMC

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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