New York State Common Retirement Fund boosted its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 18.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,254 shares of the oil and gas company's stock after purchasing an additional 48,500 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of TechnipFMC worth $9,737,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in shares of TechnipFMC in the 1st quarter worth approximately $33,000. Westpac Banking Corp purchased a new stake in shares of TechnipFMC in the 4th quarter valued at $55,000. Quarry LP boosted its holdings in TechnipFMC by 95.9% during the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after acquiring an additional 1,248 shares during the period. GAMMA Investing LLC lifted its position in shares of TechnipFMC by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after purchasing an additional 614 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in TechnipFMC by 346.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after buying an additional 2,219 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.
TechnipFMC Stock Performance
Shares of NYSE FTI traded up $0.22 during mid-day 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 quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.17. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.07. The stock has a 50 day simple moving average of $33.04 and a 200-day simple moving average of $30.46. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $35.86.
TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. On average, sell-side analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.
TechnipFMC Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. TechnipFMC's dividend payout ratio (DPR) is currently 10.53%.
Wall Street Analyst Weigh In
FTI has been the topic of several analyst reports. BTIG Research cut TechnipFMC from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. 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. Susquehanna boosted their price target on shares of TechnipFMC from $35.00 to $40.00 and gave the stock a "positive" rating in a report on Tuesday, July 1st. Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Citigroup reaffirmed a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. 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, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus target price of $37.31.
View Our Latest Stock Analysis on FTI
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.
Featured Stories
Before you consider TechnipFMC, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TechnipFMC wasn't on the list.
While TechnipFMC currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
