Capital World Investors Acquires 31,167 Shares of TechnipFMC plc $FTI

Capital World Investors raised its stake in TechnipFMC plc (NYSE:FTI) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,292,837 shares of the oil and gas company’s stock after buying an additional 31,167 shares during the quarter. Capital World Investors’ holdings in TechnipFMC were worth $563,852,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTI. AE Wealth Management LLC increased its position in shares of TechnipFMC by 38.0% during the third quarter. AE Wealth Management LLC now owns 183,603 shares of the oil and gas company’s stock worth $7,243,000 after buying an additional 50,593 shares during the period. Lingohr Asset Management GmbH raised its position in shares of TechnipFMC by 461.7% in the 3rd quarter. Lingohr Asset Management GmbH now owns 212,295 shares of the oil and gas company’s stock worth $8,375,000 after acquiring an additional 174,500 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after purchasing an additional 1,415,621 shares during the period. Rothschild Investment LLC boosted its position in shares of TechnipFMC by 25,468.9% during the 3rd quarter. Rothschild Investment LLC now owns 11,506 shares of the oil and gas company’s stock valued at $454,000 after purchasing an additional 11,461 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of TechnipFMC by 8.4% during the 3rd quarter. New York State Common Retirement Fund now owns 305,535 shares of the oil and gas company’s stock valued at $12,053,000 after purchasing an additional 23,600 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

FTI has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. Piper Sandler upped their price objective on shares of TechnipFMC from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Susquehanna increased their price objective on shares of TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $58.47.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 6,350 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the sale, the director directly owned 97,860 shares in the company, valued at approximately $6,400,044. This represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Trading Up 2.3%

NYSE:FTI opened at $64.92 on Wednesday. The stock’s fifty day moving average price is $57.32 and its two-hundred day moving average price is $46.91. The company has a market cap of $25.97 billion, a P/E ratio of 28.10, a P/E/G ratio of 1.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.89. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $68.29.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.19. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Tuesday, March 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 17th. TechnipFMC’s payout ratio is 8.66%.

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.