AQR Capital Management LLC Purchases 1,710,183 Shares of TechnipFMC plc (NYSE:FTI)

AQR Capital Management LLC lifted its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 70.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,132,758 shares of the oil and gas company's stock after acquiring an additional 1,710,183 shares during the quarter. AQR Capital Management LLC owned 0.97% of TechnipFMC worth $119,602,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich bought a new position in TechnipFMC in the fourth quarter valued at about $46,000. Smartleaf Asset Management LLC increased its holdings in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 525 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in TechnipFMC during the 4th quarter valued at approximately $45,000. EverSource Wealth Advisors LLC increased its stake in TechnipFMC by 393.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company's stock worth $49,000 after acquiring an additional 1,338 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in TechnipFMC by 48.2% during the fourth quarter. V Square Quantitative Management LLC now owns 1,730 shares of the oil and gas company's stock valued at $50,000 after purchasing an additional 563 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 2.3 %

FTI stock traded up $0.67 during midday trading on Friday, reaching $29.69. The company's stock had a trading volume of 2,780,021 shares, compared to its average volume of 3,984,542. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $33.45. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 19.53 and a beta of 1.11. The stock has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $28.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14.

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 the consensus estimate of $0.36 by ($0.03). TechnipFMC had a return on equity of 20.11% and a net margin of 7.63%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the prior year, the business earned $0.22 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. TechnipFMC's payout ratio is 10.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FTI. Evercore ISI increased their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Barclays lifted their price target on TechnipFMC from $43.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Susquehanna lowered their price objective on TechnipFMC from $41.00 to $35.00 and set a "positive" rating for the company in a research note on Monday, April 14th. StockNews.com downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Piper Sandler increased their price target on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two research 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. Based on data from MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus target price of $36.83.

Insider Buying and Selling

In other TechnipFMC news, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at $187,472.10. This represents a 57.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total transaction of $1,119,825.90. Following the completion of the sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. This represents a 23.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,706 shares of company stock valued at $1,651,665 over the last quarter. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Profile

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.