Bank of New York Mellon Corp Acquires 194,799 Shares of TechnipFMC plc $FTI

Bank of New York Mellon Corp raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 7.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,878,798 shares of the oil and gas company’s stock after purchasing an additional 194,799 shares during the period. Bank of New York Mellon Corp’s holdings in TechnipFMC were worth $199,011,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PFG Investments LLC lifted its position in shares of TechnipFMC by 2.4% in the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock worth $495,000 after purchasing an additional 165 shares during the period. Independent Advisor Alliance increased its holdings in shares of TechnipFMC by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after acquiring an additional 184 shares during the period. Personal CFO Solutions LLC raised its position in shares of TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock worth $346,000 after acquiring an additional 225 shares in the last quarter. Evolve Private Wealth LLC raised its position in shares of TechnipFMC by 0.7% in the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 227 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of TechnipFMC by 5.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock worth $235,000 after purchasing an additional 262 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Barclays raised their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Finally, Piper Sandler boosted their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Trading Up 0.1%

Shares of NYSE:FTI opened at $72.09 on Friday. The business’s 50-day moving average is $69.26 and its 200 day moving average is $65.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The firm has a market capitalization of $28.74 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.52 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

TechnipFMC 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.