Lazard Asset Management LLC Has $63.83 Million Stock Holdings in TechnipFMC plc $FTI

Lazard Asset Management LLC lifted its position in TechnipFMC plc (NYSE:FTI) by 29.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 923,274 shares of the oil and gas company’s stock after purchasing an additional 208,692 shares during the quarter. Lazard Asset Management LLC owned 0.23% of TechnipFMC worth $63,826,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Focus Partners Wealth boosted its position in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in TechnipFMC by 45.3% during the first 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. Sivia Capital Partners LLC increased its holdings in shares of TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after buying an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Ossiam raised its stake in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 546 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on FTI. Barclays boosted their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Evercore reaffirmed an “outperform” rating and set a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

TechnipFMC Trading Down 2.3%

Shares of NYSE FTI opened at $74.95 on Tuesday. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $77.92. The company has a 50-day moving average of $69.56 and a two-hundred day moving average of $66.50. The company has a market cap of $29.88 billion, a PE ratio of 28.61, a P/E/G ratio of 1.61 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results 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. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, equities analysts expect that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

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.