Jennison Associates LLC Increases Stake in TechnipFMC plc (NYSE:FTI)

Jennison Associates LLC boosted its holdings in TechnipFMC plc (NYSE:FTI) by 44.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,528,059 shares of the oil and gas company’s stock after buying an additional 782,290 shares during the period. Jennison Associates LLC owned approximately 0.58% of TechnipFMC worth $50,915,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System grew its position in TechnipFMC by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 126,410 shares of the oil and gas company’s stock valued at $2,571,000 after acquiring an additional 660 shares in the last quarter. Fulton Bank N.A. lifted its stake in TechnipFMC by 6.8% in the fourth quarter. Fulton Bank N.A. now owns 10,750 shares of the oil and gas company’s stock valued at $217,000 after buying an additional 683 shares during the last quarter. Janney Capital Management LLC raised its stake in shares of TechnipFMC by 2.8% during the third quarter. Janney Capital Management LLC now owns 26,849 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 722 shares in the last quarter. Dfpg Investments LLC raised its stake in shares of TechnipFMC by 2.4% during the fourth quarter. Dfpg Investments LLC now owns 31,360 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 738 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of TechnipFMC by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 192,800 shares of the oil and gas company’s stock valued at $3,922,000 after purchasing an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the sale, the director now directly owns 103,982 shares in the company, valued at approximately $2,204,418.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

TechnipFMC Trading Up 1.7 %

NYSE:FTI opened at $25.82 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 0.92. TechnipFMC plc has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The stock’s 50-day moving average is $23.80 and its two-hundred day moving average is $21.43. The stock has a market cap of $11.28 billion, a PE ratio of 215.14 and a beta of 1.65.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the business posted ($0.05) EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities research analysts forecast that TechnipFMC plc will post 1.15 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.77%. TechnipFMC’s dividend payout ratio (DPR) is presently 166.68%.

Analyst Ratings Changes

FTI has been the topic of a number of research analyst reports. Barclays lifted their target price on TechnipFMC from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a report on Friday, February 23rd. Benchmark reaffirmed a “buy” rating and set a $30.00 target price (up from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. Bank of America lifted their target price on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.34.

TechnipFMC Profile

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.