Pallas Capital Advisors LLC Grows Stock Position in TechnipFMC plc (NYSE:FTI)

Pallas Capital Advisors LLC boosted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 90.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,214 shares of the oil and gas company's stock after buying an additional 26,203 shares during the period. Pallas Capital Advisors LLC's holdings in TechnipFMC were worth $1,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its position in TechnipFMC by 0.9% in the 4th 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 acquiring an additional 365,527 shares in the last quarter. Vanguard Group Inc. grew its position 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 valued at $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. grew its position 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 valued at $478,620,000 after acquiring an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in TechnipFMC by 15.6% in 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 grew its position in 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 acquiring an additional 2,306,342 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company's 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 sale, the director now owns 100,951 shares in the company, valued at $3,004,301.76. This represents a 8.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by company insiders.

TechnipFMC Stock Down 0.4%

FTI traded down $0.15 on Friday, reaching $34.53. The company's stock had a trading volume of 4,329,388 shares, compared to its average volume of 4,050,190. The stock has a 50 day moving average of $29.23 and a two-hundred day moving average of $29.68. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 22.72 and a beta of 1.06. TechnipFMC plc has a fifty-two week low of $22.12 and a fifty-two week high of $36.62.

TechnipFMC (NYSE:FTI - Get Free Report) last announced 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 business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.26 billion. TechnipFMC had a net margin of 7.63% and a return on equity of 20.11%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, analysts forecast that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's dividend payout ratio is currently 10.53%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FTI shares. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research report on Thursday, May 22nd. Susquehanna lowered their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.46.

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.