Invesco Ltd. Raises Stock Holdings in TechnipFMC plc (NYSE:FTI)

Key Points

• Invesco Ltd. increased its holdings in TechnipFMC plc by 18.0%, now owning approximately 7.46 million shares valued at $236.37 million.
• TechnipFMC announced a quarterly dividend of $0.05 payable on September 3rd, representing an annualized yield of 0.6%.
• Equities research analysts have varying ratings for TechnipFMC, with a consensus rating of "Moderate Buy" and an average price target of $38.92.

Invesco Ltd. raised its position in TechnipFMC plc (NYSE:FTI - Free Report) by 18.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,458,847 shares of the oil and gas company's stock after purchasing an additional 1,136,554 shares during the period. Invesco Ltd. owned 1.78% of TechnipFMC worth $236,371,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System acquired a new position in shares of TechnipFMC during the 1st quarter valued at $33,000. Quarry LP grew its stake in shares of TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after acquiring an additional 1,248 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after acquiring an additional 2,219 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after acquiring an additional 614 shares in the last quarter. Finally, Acuitas Investments LLC grew its stake in shares of TechnipFMC by 13.4% in the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock worth $108,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FTI shares. Barclays upped their target price on shares of TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Citigroup reiterated a "buy" rating and issued a $41.00 target price (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Susquehanna boosted their price target on shares of TechnipFMC from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the sale, the director directly owned 62,978 shares of the company's stock, valued at $2,337,743.36. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Price Performance

Shares of TechnipFMC stock traded down $0.59 on Friday, reaching $35.01. The stock had a trading volume of 2,983,507 shares, compared to its average volume of 4,004,726. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The company has a market cap of $14.39 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $34.80 and its two-hundred day moving average is $30.96.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.11. TechnipFMC had a net margin of 9.60% and a return on equity of 29.42%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The company's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, August 19th. TechnipFMC's dividend payout ratio (DPR) is currently 9.43%.

TechnipFMC 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.