Exchange Traded Concepts LLC Has $2.14 Million Stock Position in 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 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,580 shares of the oil and gas company's stock after acquiring an additional 8,465 shares during the quarter. Exchange Traded Concepts LLC's holdings in TechnipFMC were worth $2,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in shares of TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company's stock valued at $1,220,288,000 after purchasing an additional 365,527 shares in the last quarter. Vanguard Group Inc. lifted its stake in TechnipFMC by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in TechnipFMC by 31.5% in the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company's stock worth $478,620,000 after acquiring an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in TechnipFMC by 15.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company's stock valued at $282,150,000 after acquiring an additional 1,319,015 shares in the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of 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 valued at $210,295,000 after purchasing an additional 2,306,342 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $37.00 target price on shares of TechnipFMC in a research note on Monday, April 28th. Sanford C. Bernstein cut shares of TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a report on Thursday, May 22nd. Susquehanna cut their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Two 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.46.

TechnipFMC Trading Down 0.1%

FTI stock traded down $0.02 during midday trading on Wednesday, hitting $35.29. 3,704,807 shares of the company's stock were exchanged, compared to its average volume of 4,050,212. The stock's fifty day moving average price is $29.64 and its 200-day moving average price is $29.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.07. TechnipFMC plc has a one year low of $22.12 and a one year high of $35.68. The company has a market cap of $14.79 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.20 and a beta of 1.06.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company posted $0.22 earnings per share. TechnipFMC's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's payout ratio is 10.53%.

Insiders Place Their Bets

In related news, Director Carvalho Filho Eleazar De sold 9,381 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the completion of the transaction, the director now directly owns 100,951 shares of the company's stock, valued at approximately $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

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.