Exchange Traded Concepts LLC Buys 8,465 Shares of TechnipFMC plc (NYSE:FTI)

Exchange Traded Concepts LLC lifted its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 14.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,580 shares of the oil and gas company's stock after buying an additional 8,465 shares during the quarter. Exchange Traded Concepts LLC's holdings in TechnipFMC were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of TechnipFMC in the 4th quarter worth approximately $46,000. EverSource Wealth Advisors LLC grew its position 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 worth $49,000 after acquiring an additional 1,338 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in TechnipFMC by 48.2% in the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 563 shares during the period. Finally, Westpac Banking Corp acquired a new position in TechnipFMC in the fourth quarter worth $55,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FTI. Susquehanna reduced their price target on shares of TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Barclays boosted their target price on shares of TechnipFMC from $43.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Piper Sandler boosted their target price on shares of TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Sanford C. Bernstein downgraded 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. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and a consensus target price of $36.46.

Insider Activity

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of TechnipFMC stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total value of $279,178.56. Following the completion of the sale, the director now owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. The trade was a 8.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

TechnipFMC Price Performance

Shares of NYSE FTI traded down $0.35 during mid-day trading on Friday, reaching $34.98. The company had a trading volume of 11,652,310 shares, compared to its average volume of 4,085,455. The company has a 50-day moving average price of $30.25 and a two-hundred day moving average price of $29.81. The stock has a market cap of $14.67 billion, a PE ratio of 18.41, a P/E/G ratio of 1.21 and a beta of 1.06. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $35.71. 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 quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share 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 firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Announces Dividend

The business 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. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's dividend payout ratio is currently 10.53%.

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.