Ieq Capital LLC Boosts Stake in TechnipFMC plc $FTI

Ieq Capital LLC increased its position in TechnipFMC plc (NYSE:FTI) by 21.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 991,253 shares of the oil and gas company’s stock after purchasing an additional 175,670 shares during the period. Ieq Capital LLC’s holdings in TechnipFMC were worth $44,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of TechnipFMC by 34.0% in the 3rd quarter. AQR Capital Management LLC now owns 13,316,569 shares of the oil and gas company’s stock valued at $525,339,000 after purchasing an additional 3,378,159 shares during the last quarter. State Street Corp lifted its holdings in shares of TechnipFMC by 62.2% in 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 during the last quarter. Boston Partners lifted its holdings 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 valued at $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Geode Capital Management LLC raised its stake in TechnipFMC by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after acquiring an additional 193,244 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in TechnipFMC by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,944,048 shares of the oil and gas company’s stock valued at $220,328,000 after acquiring an additional 180,418 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup upped their price objective on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Barclays upped their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and upped their price objective for the company from $49.00 to $62.00 in a research note on Friday, February 20th. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.71.

TechnipFMC Stock Performance

NYSE FTI opened at $70.70 on Friday. 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 business’s 50 day moving average is $71.67 and its two-hundred day moving average is $61.15. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78. The stock has a market capitalization of $28.19 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.52 and a beta of 0.69.

TechnipFMC (NYSE:FTI) last released its earnings results 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. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Research analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors 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%.

Insider Buying and Selling at TechnipFMC

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total value of $440,182.00. Following the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

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.