Penserra Capital Management LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,228 shares of the oil and gas company's stock, valued at approximately $577,000.
Other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in TechnipFMC during the 1st quarter worth $33,000. EverSource Wealth Advisors LLC raised its stake in TechnipFMC by 393.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,338 shares during the period. Westpac Banking Corp acquired a new stake in TechnipFMC during the 4th quarter worth $55,000. Steward Partners Investment Advisory LLC raised its stake in TechnipFMC by 106.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,031 shares of the oil and gas company's stock worth $59,000 after buying an additional 1,047 shares during the period. Finally, Quarry LP raised its stake in TechnipFMC by 95.9% during the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after buying an additional 1,248 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.
TechnipFMC Stock Performance
TechnipFMC stock traded up $0.30 during midday trading on Friday, reaching $35.66. 2,475,817 shares of the company's stock were exchanged, compared to its average volume of 4,127,946. TechnipFMC plc has a 52 week low of $22.12 and a 52 week high of $35.86. 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 cap of $14.95 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.20 and a beta of 1.07. The stock's 50-day simple moving average is $32.64 and its 200 day simple moving average is $30.30.
TechnipFMC (NYSE:FTI - Get Free Report) last posted 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 return on equity of 27.01% and a net margin of 8.93%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business posted $0.22 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, May 20th. TechnipFMC's payout ratio is currently 10.53%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. Barclays raised their price objective on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Citigroup reissued a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research note on Thursday. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $37.00 price target on shares of TechnipFMC in a research note on Monday, April 28th. Finally, Susquehanna lifted their price target on TechnipFMC from $35.00 to $40.00 and gave the company a "positive" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.31.
Check Out Our Latest Research Report on TechnipFMC
TechnipFMC 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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