California Public Employees Retirement System Increases Stock Position in TechnipFMC plc $FTI

California Public Employees Retirement System lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,504 shares of the oil and gas company’s stock after purchasing an additional 116,062 shares during the period. California Public Employees Retirement System’s holdings in TechnipFMC were worth $69,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in TechnipFMC in the 1st quarter worth about $26,000. Harbor Investment Advisory LLC purchased a new stake in TechnipFMC in the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its stake in shares of TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the last quarter. Finally, Ascentis Independent Advisors purchased a new position in shares of TechnipFMC in the 1st quarter worth approximately $37,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Evercore reaffirmed an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Barclays raised their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Trading Up 0.0%

Shares of FTI stock opened at $72.09 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm has a market cap of $28.74 billion, a P/E ratio of 27.52, a PEG ratio of 1.52 and a beta of 0.70. The company has a 50 day moving average of $69.26 and a 200-day moving average of $65.29. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. TechnipFMC’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

About TechnipFMC

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.