Charles Schwab Investment Management Inc. Buys 111,644 Shares of TechnipFMC plc (NYSE:FTI)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in TechnipFMC plc by 3.1%, owning 3,761,185 shares worth approximately $119.2 million at the end of the last quarter.
• TechnipFMC reported earnings of $0.68 per share, exceeding expectations, with a 9% year-over-year revenue increase, amounting to $2.53 billion for the quarter.
• The company recently declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend yield of 0.6%.

Charles Schwab Investment Management Inc. grew its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,761,185 shares of the oil and gas company's stock after purchasing an additional 111,644 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of TechnipFMC worth $119,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTI. Ameriprise Financial Inc. increased its position in shares of TechnipFMC by 31.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock valued at $478,620,000 after purchasing an additional 3,962,315 shares during the last quarter. Anomaly Capital Management LP increased its holdings in TechnipFMC by 46.5% in the 4th quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company's stock worth $210,295,000 after acquiring an additional 2,306,342 shares in the last quarter. AQR Capital Management LLC increased its holdings in TechnipFMC by 70.6% in the 4th quarter. AQR Capital Management LLC now owns 4,132,758 shares of the oil and gas company's stock worth $119,602,000 after acquiring an additional 1,710,183 shares in the last quarter. Deutsche Bank AG increased its holdings in TechnipFMC by 92.5% in the 4th quarter. Deutsche Bank AG now owns 2,777,040 shares of the oil and gas company's stock worth $80,368,000 after acquiring an additional 1,334,555 shares in the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in TechnipFMC in the 4th quarter worth approximately $36,567,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FTI. Barclays increased their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Susquehanna increased their target price on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Sanford C. Bernstein lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a report on Thursday, May 22nd. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, BTIG Research lowered shares of TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.92.

Insider Activity at TechnipFMC

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. This represents a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Price Performance

FTI stock traded down $0.59 during midday trading on Friday, hitting $35.01. The company's stock had a trading volume of 2,983,507 shares, compared to its average volume of 4,004,726. The company has a quick ratio of 0.86, a current ratio of 1.10 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.04. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $38.05. The company has a 50 day moving average of $34.80 and a two-hundred day moving average of $30.95.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. On average, analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC's dividend payout ratio is currently 9.43%.

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.