TechnipFMC plc (NYSE:FTI) Position Boosted by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its holdings in TechnipFMC plc (NYSE:FTIFree Report) by 346.7% during the first quarter, Holdings Channel reports. The firm owned 2,859 shares of the oil and gas company’s stock after purchasing an additional 2,219 shares during the period. Farther Finance Advisors LLC’s holdings in TechnipFMC were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its position in TechnipFMC by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,166,132 shares of the oil and gas company’s stock worth $1,220,288,000 after buying an additional 365,527 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company’s stock worth $1,180,576,000 after acquiring an additional 1,623,864 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of TechnipFMC by 31.5% during the 4th quarter. Ameriprise Financial Inc. now owns 16,538,230 shares of the oil and gas company’s stock worth $478,620,000 after acquiring an additional 3,962,315 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TechnipFMC by 15.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,749,465 shares of the oil and gas company’s stock worth $282,150,000 after acquiring an additional 1,319,015 shares during the last quarter. Finally, Anomaly Capital Management LP raised its position in shares of TechnipFMC by 46.5% during the fourth quarter. Anomaly Capital Management LP now owns 7,266,580 shares of the oil and gas company’s stock worth $210,295,000 after purchasing an additional 2,306,342 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays increased their price target on TechnipFMC from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Sanford C. Bernstein cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 target price for the company. in a report on Thursday, May 22nd. Susquehanna cut their price target on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Piper Sandler upped their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of TechnipFMC in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $36.46.

Read Our Latest Research Report on FTI

Insider Buying and Selling at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now owns 100,951 shares in the company, valued at approximately $3,004,301.76. This trade represents a 8.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $34.98 on Friday. The firm has a market cap of $14.67 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.21 and a beta of 1.06. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $35.71. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $30.25 and a 200 day simple moving average of $29.81.

TechnipFMC (NYSE:FTIGet Free Report) last posted its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.26 billion. TechnipFMC had a return on equity of 27.01% and a net margin of 8.93%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.22 earnings per share. As a group, sell-side analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, May 20th. TechnipFMC’s payout ratio is presently 10.53%.

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.

Further Reading

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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