Edgestream Partners L.P. Boosts Holdings in TechnipFMC plc (NYSE:FTI)

Edgestream Partners L.P. increased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 543.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 120,829 shares of the oil and gas company's stock after purchasing an additional 102,060 shares during the quarter. Edgestream Partners L.P.'s holdings in TechnipFMC were worth $3,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in TechnipFMC in the first quarter valued at $33,000. EverSource Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 393.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,338 shares in the last quarter. Westpac Banking Corp bought a new position in shares of TechnipFMC during the fourth quarter worth about $55,000. Steward Partners Investment Advisory LLC grew its holdings in shares of TechnipFMC by 106.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company's stock worth $59,000 after buying an additional 1,047 shares in the last quarter. Finally, Quarry LP grew its stake in TechnipFMC by 95.9% in the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after purchasing an additional 1,248 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of FTI stock traded up $0.08 during trading on Friday, hitting $32.75. The company's stock had a trading volume of 6,363,105 shares, compared to its average volume of 4,142,882. The business has a fifty day moving average of $33.04 and a 200-day moving average of $30.44. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $35.86. The company has a market cap of $13.73 billion, a PE ratio of 17.24, a P/E/G ratio of 1.10 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.

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 the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the prior year, the company earned $0.22 EPS. The company's revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's dividend payout ratio is currently 10.53%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FTI. Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research report on Thursday, May 22nd. BTIG Research lowered TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen lowered TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barclays boosted their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Susquehanna boosted their price objective on TechnipFMC from $35.00 to $40.00 and gave the stock a "positive" rating in a research report on Tuesday, July 1st. Four research 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's stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average price target of $37.31.

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.