TechnipFMC plc $FTI Stock Position Lowered by Gabelli Funds LLC

Gabelli Funds LLC decreased its position in TechnipFMC plc (NYSE:FTI) by 11.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 158,993 shares of the oil and gas company’s stock after selling 21,350 shares during the period. Gabelli Funds LLC’s holdings in TechnipFMC were worth $10,991,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares in the last quarter. State Street Corp boosted its position in shares of TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Invesco Ltd. boosted its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after purchasing an additional 4,437,960 shares in the last quarter. Boston Partners grew its stake in shares of TechnipFMC by 2.0% in the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of TechnipFMC by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock worth $337,714,000 after purchasing an additional 193,244 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of FTI stock opened at $76.70 on Monday. The company has a market capitalization of $30.58 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 1.61 and a beta of 0.70. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $77.92. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $69.53 and its 200-day simple moving average is $66.31.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, sell-side analysts predict that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on FTI. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Royal Bank Of Canada upped their price target on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Barclays increased their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, UBS Group set a $80.00 target price on TechnipFMC in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Company 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.