TechnipFMC plc $FTI Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 34.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 447,790 shares of the oil and gas company's stock after acquiring an additional 114,656 shares during the quarter. First Trust Advisors LP owned approximately 0.11% of TechnipFMC worth $30,956,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FTI. Westpac Banking Corp raised its stake in shares of TechnipFMC by 599.3% in the 1st quarter. Westpac Banking Corp now owns 9,077 shares of the oil and gas company's stock valued at $627,000 after purchasing an additional 7,779 shares in the last quarter. Chase Investment Counsel Corp grew its stake in TechnipFMC by 6.4% in the first quarter. Chase Investment Counsel Corp now owns 189,369 shares of the oil and gas company's stock worth $13,091,000 after purchasing an additional 11,466 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in TechnipFMC by 135.6% in the first quarter. PNC Financial Services Group Inc. now owns 74,194 shares of the oil and gas company's stock valued at $5,129,000 after buying an additional 42,697 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in TechnipFMC in the first quarter valued at about $1,276,000. Finally, DUTCH ASSET Corp raised its stake in TechnipFMC by 18.3% during the first quarter. DUTCH ASSET Corp now owns 17,441 shares of the oil and gas company's stock valued at $1,206,000 after buying an additional 2,703 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $72.22 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average price is $69.53 and its two-hundred day moving average price is $66.66. TechnipFMC plc has a 52-week low of $34.27 and a 52-week high of $77.92. The stock has a market capitalization of $28.79 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.58 and a beta of 0.70.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business had revenue of $2.49 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the firm earned $0.33 EPS. The business's quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC's payout ratio is 7.63%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FTI shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. Evercore reissued an "outperform" rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Wall Street Zen upgraded TechnipFMC from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Barclays lifted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company's activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.

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