American International Group Inc. grew its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 5.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,701 shares of the oil and gas company’s stock after buying an additional 7,897 shares during the quarter. American International Group Inc.’s holdings in TechnipFMC were worth $4,866,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FTI. Massachusetts Financial Services Co. MA grew its stake in shares of TechnipFMC by 1.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 552,393 shares of the oil and gas company’s stock valued at $17,533,000 after buying an additional 7,102 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of TechnipFMC by 16.1% during the second quarter. Wells Fargo & Company MN now owns 1,606,744 shares of the oil and gas company’s stock valued at $50,999,000 after buying an additional 222,806 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in shares of TechnipFMC during the second quarter valued at approximately $11,588,000. LMR Partners LLP bought a new position in TechnipFMC in the second quarter worth approximately $1,441,000. Finally, KBC Group NV grew its stake in TechnipFMC by 48.1% in the second quarter. KBC Group NV now owns 496,989 shares of the oil and gas company’s stock worth $15,775,000 after purchasing an additional 161,386 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FTI opened at $21.00 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.56 and a beta of 1.08. TechnipFMC PLC has a 12-month low of $20.98 and a 12-month high of $35.00.
TechnipFMC (NYSE:FTI) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.07). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.22 billion. TechnipFMC had a net margin of 1.42% and a return on equity of 3.76%. As a group, equities research analysts expect that TechnipFMC PLC will post 1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 5th. Shareholders of record on Tuesday, November 20th were given a dividend of $0.13 per share. The ex-dividend date was Monday, November 19th. This represents a $0.52 annualized dividend and a yield of 2.48%. TechnipFMC’s dividend payout ratio (DPR) is presently 10.08%.
Several research analysts recently issued reports on the company. ValuEngine cut TechnipFMC from a “hold” rating to a “sell” rating in a research note on Thursday. Cowen reissued a “buy” rating on shares of TechnipFMC in a research note on Monday, December 3rd. HSBC raised TechnipFMC from a “reduce” rating to a “hold” rating and set a $23.12 price objective on the stock in a research note on Sunday, December 2nd. Susquehanna Bancshares reissued a “buy” rating on shares of TechnipFMC in a research note on Friday, November 30th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Thursday, November 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. TechnipFMC currently has a consensus rating of “Hold” and an average target price of $36.24.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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