Dorsey Wright & Associates Has $19.29 Million Stake in TechnipFMC plc $FTI

Key Points

• Dorsey Wright & Associates increased its TechnipFMC stake by 127.5% in Q1, buying 156,386 more shares to bring its total to 279,064 shares worth about $19.29 million.
• TechnipFMC reported better-than-expected earnings of $0.64 per share on April 30, topping estimates, while revenue rose 11.6% year over year to $2.49 billion.
• Analyst sentiment remains mostly positive, with several firms reiterating or raising buy ratings; MarketBeat shows an average rating of Moderate Buy and a price target of $69.64.

Dorsey Wright & Associates raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 127.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 279,064 shares of the oil and gas company's stock after purchasing an additional 156,386 shares during the period. TechnipFMC makes up approximately 2.4% of Dorsey Wright & Associates' portfolio, making the stock its 8th biggest holding. Dorsey Wright & Associates owned about 0.07% of TechnipFMC worth $19,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. California Public Employees Retirement System grew its holdings in TechnipFMC by 13.1% during the first quarter. California Public Employees Retirement System now owns 1,003,504 shares of the oil and gas company's stock worth $69,372,000 after buying an additional 116,062 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in TechnipFMC by 6.5% during the 1st quarter. Kera Capital Partners Inc. now owns 11,172 shares of the oil and gas company's stock worth $772,000 after acquiring an additional 681 shares during the last quarter. Gryphon Financial Partners LLC purchased a new position in TechnipFMC during the 1st quarter worth $331,000. Assetmark Inc. grew its stake in shares of TechnipFMC by 35.4% in the 1st quarter. Assetmark Inc. now owns 21,735 shares of the oil and gas company's stock worth $1,503,000 after acquiring an additional 5,679 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in shares of TechnipFMC in the first quarter valued at about $604,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Up 0.1%

NYSE FTI opened at $72.09 on Friday. The business's fifty day moving average is $69.26 and its 200-day moving average is $65.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The stock has a market capitalization of $28.74 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.51 and a beta of 0.70. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78.

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

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC's dividend payout ratio is currently 7.63%.

Wall Street Analyst Weigh In

FTI has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Citigroup boosted their target price on TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Finally, Zacks Research lowered TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and an average price target of $69.64.

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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