Balyasny Asset Management L.P. Purchases 2,808,618 Shares of TechnipFMC plc (NYSE:FTI)

Balyasny Asset Management L.P. grew its stake in shares of TechnipFMC plc (NYSE:FTIFree Report) by 868.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,132,166 shares of the oil and gas company’s stock after acquiring an additional 2,808,618 shares during the period. Balyasny Asset Management L.P. owned about 0.72% of TechnipFMC worth $63,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FTI. Parkside Financial Bank & Trust bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $29,000. Johnson Financial Group Inc. purchased a new position in TechnipFMC in the fourth quarter worth $33,000. Harvest Fund Management Co. Ltd purchased a new position in TechnipFMC in the fourth quarter worth $45,000. Systematic Alpha Investments LLC purchased a new position in TechnipFMC in the third quarter worth $146,000. Finally, KBC Group NV purchased a new position in TechnipFMC in the fourth quarter worth $163,000. Institutional investors own 96.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on FTI shares. Piper Sandler lifted their price target on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Susquehanna boosted their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday, April 26th. TD Cowen boosted their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, April 26th. HSBC lowered shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective on the stock. in a report on Friday, February 23rd. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.21.

Get Our Latest Report on TechnipFMC

TechnipFMC Trading Up 2.6 %

NYSE FTI opened at $24.91 on Tuesday. The company has a market capitalization of $10.74 billion, a PE ratio of 53.00 and a beta of 1.58. The company has a fifty day moving average of $25.95 and a 200 day moving average of $22.62. TechnipFMC plc has a 1 year low of $14.23 and a 1 year high of $27.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87.

TechnipFMC (NYSE:FTIGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were given a $0.05 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. TechnipFMC’s dividend payout ratio (DPR) is currently 42.55%.

TechnipFMC Company 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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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