Entropy Technologies LP bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,338 shares of the oil and gas company's stock, valued at approximately $1,056,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FTI. Envestnet Asset Management Inc. grew its stake in TechnipFMC by 123.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 714,533 shares of the oil and gas company's stock valued at $20,679,000 after purchasing an additional 394,790 shares in the last quarter. Sterling Capital Management LLC grew its stake in TechnipFMC by 29.8% in the fourth quarter. Sterling Capital Management LLC now owns 76,769 shares of the oil and gas company's stock valued at $2,222,000 after purchasing an additional 17,639 shares in the last quarter. Townsquare Capital LLC grew its stake in TechnipFMC by 1.5% in the fourth quarter. Townsquare Capital LLC now owns 219,014 shares of the oil and gas company's stock valued at $6,338,000 after purchasing an additional 3,197 shares in the last quarter. Mariner LLC grew its stake in TechnipFMC by 12.6% in the fourth quarter. Mariner LLC now owns 25,219 shares of the oil and gas company's stock valued at $730,000 after purchasing an additional 2,819 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in TechnipFMC by 27.8% in the fourth quarter. XTX Topco Ltd now owns 43,814 shares of the oil and gas company's stock valued at $1,268,000 after purchasing an additional 9,543 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.
TechnipFMC Stock Performance
Shares of NYSE FTI traded down $0.08 during trading hours on Wednesday, hitting $35.04. 2,006,233 shares of the company's stock were exchanged, compared to its average volume of 4,320,360. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $38.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.10 and a quick ratio of 0.86. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.16 and a beta of 1.04. The company's 50-day moving average price is $34.68 and its 200-day moving average price is $30.89.
TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's payout ratio is currently 9.43%.
Wall Street Analyst Weigh In
FTI has been the subject of several recent analyst reports. Barclays upped their price target on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. BTIG Research downgraded TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Thursday, May 22nd. Susquehanna upped their price target on TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.92.
Check Out Our Latest Analysis on FTI
Insider Buying and Selling at TechnipFMC
In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the transaction, the director owned 62,978 shares of the company's stock, valued at $2,337,743.36. This represents a 12.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company's stock.
TechnipFMC Profile
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Free Report)
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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