Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 94,000 shares of the oil and gas company's stock, valued at approximately $6,498,000.
A number of other institutional investors and hedge funds have also bought and sold shares of FTI. Asset Management One Co. Ltd. bought a new position in TechnipFMC in the fourth quarter valued at $833,000. Fisher Asset Management LLC lifted its stake in TechnipFMC by 7.1% during the fourth quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company's stock worth $18,200,000 after purchasing an additional 27,111 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of TechnipFMC in the 4th quarter worth about $641,000. HighTower Advisors LLC boosted its holdings in shares of TechnipFMC by 54.7% in the 4th quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company's stock worth $2,087,000 after purchasing an additional 16,562 shares in the last quarter. Finally, Archford Capital Strategies LLC bought a new position in shares of TechnipFMC during the 4th quarter valued at about $1,691,000. 96.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on FTI shares. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Piper Sandler lifted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Susquehanna reduced their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.64.
Get Our Latest Stock Analysis on TechnipFMC
TechnipFMC Stock Down 0.9%
Shares of NYSE:FTI opened at $71.77 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 1 year low of $34.27 and a 1 year high of $77.92. The company has a market cap of $28.61 billion, a PE ratio of 27.39, a P/E/G ratio of 1.52 and a beta of 0.70. The stock's 50-day moving average is $69.52 and its 200 day moving average is $66.82.
TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 3.01 EPS for the current year.
TechnipFMC Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's dividend payout ratio is currently 7.63%.
TechnipFMC Company Profile
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Free Report)
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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