Bank of New York Mellon Corp Grows Holdings in TechnipFMC plc (NYSE:FTI)

Bank of New York Mellon Corp boosted its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 0.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,462,924 shares of the oil and gas company's stock after purchasing an additional 8,823 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of TechnipFMC worth $46,360,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. New York State Teachers Retirement System purchased a new position in shares of TechnipFMC during the first quarter worth about $33,000. EverSource Wealth Advisors LLC grew its stake in shares of TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock valued at $49,000 after purchasing an additional 1,338 shares during the last quarter. Westpac Banking Corp acquired a new position in shares of TechnipFMC in the fourth quarter valued at approximately $55,000. Steward Partners Investment Advisory LLC increased its holdings in shares of TechnipFMC by 106.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company's stock valued at $59,000 after purchasing an additional 1,047 shares during the period. Finally, Quarry LP lifted its holdings in shares of TechnipFMC by 95.9% during the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after purchasing an additional 1,248 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FTI has been the topic of several recent research reports. Susquehanna boosted their price objective on shares of TechnipFMC from $35.00 to $40.00 and gave the company a "positive" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada reissued an "outperform" rating and set a $37.00 price target on shares of TechnipFMC in a report on Monday, April 28th. Sanford C. Bernstein lowered TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a report on Thursday, May 22nd. Barclays increased their target price on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average price target of $37.31.

TechnipFMC Stock Performance

Shares of FTI opened at $35.66 on Monday. TechnipFMC plc has a 12-month low of $22.12 and a 12-month high of $35.86. The stock has a market cap of $14.95 billion, a P/E ratio of 18.77, a PEG ratio of 1.20 and a beta of 1.07. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $32.64 and a two-hundred day moving average of $30.31.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the previous year, the company posted $0.22 EPS. TechnipFMC's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. TechnipFMC's dividend payout ratio (DPR) is presently 10.53%.

About TechnipFMC

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.

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