Jennison Associates LLC cut its holdings in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 7.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,158,169 shares of the oil and gas company's stock after selling 172,335 shares during the period. Jennison Associates LLC owned about 0.51% of TechnipFMC worth $68,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTI. Acuitas Investments LLC grew its stake in TechnipFMC by 13.4% during the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock valued at $108,000 after acquiring an additional 400 shares in the last quarter. KBC Group NV grew its stake in TechnipFMC by 2.4% during the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock valued at $575,000 after acquiring an additional 429 shares in the last quarter. Foundry Partners LLC grew its stake in shares of TechnipFMC by 4.4% in the 4th quarter. Foundry Partners LLC now owns 13,601 shares of the oil and gas company's stock valued at $394,000 after buying an additional 577 shares during the period. 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 valued at $91,000 after buying an additional 614 shares during the period. Finally, Baker Tilly Wealth Management LLC grew its stake in shares of TechnipFMC by 7.7% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company's stock valued at $293,000 after buying an additional 657 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Barclays increased their price target 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. Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Citigroup reiterated a "buy" rating and set a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. BTIG Research downgraded shares of TechnipFMC from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $37.31.
Read Our Latest Stock Report on FTI
TechnipFMC Stock Up 0.7%
Shares of FTI stock traded up $0.22 during trading on Tuesday, hitting $32.41. 6,003,055 shares of the company were exchanged, compared to its average volume of 4,155,078. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.07. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.09 and a beta of 1.07. The business's 50-day simple moving average is $33.04 and its 200 day simple moving average is $30.46. TechnipFMC plc has a twelve month low of $22.12 and a twelve month high of $35.86.
TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business earned $0.22 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.
TechnipFMC Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, August 19th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. TechnipFMC's dividend payout ratio is presently 10.53%.
TechnipFMC Company Profile
(
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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