Toronto Dominion Bank decreased its stake in TechnipFMC PLC (NYSE:FTI) by 38.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,063 shares of the oil and gas company’s stock after selling 84,952 shares during the quarter. Toronto Dominion Bank’s holdings in TechnipFMC were worth $917,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. HighTower Advisors LLC purchased a new stake in TechnipFMC in the second quarter worth about $120,000. New Mexico Educational Retirement Board grew its position in shares of TechnipFMC by 7.2% during the second quarter. New Mexico Educational Retirement Board now owns 28,323 shares of the oil and gas company’s stock worth $194,000 after purchasing an additional 1,900 shares in the last quarter. Primecap Management Co. CA grew its position in shares of TechnipFMC by 151.4% during the first quarter. Primecap Management Co. CA now owns 676,800 shares of the oil and gas company’s stock worth $4,562,000 after purchasing an additional 407,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TechnipFMC during the first quarter worth about $279,000. Finally, Two Sigma Advisers LP grew its position in shares of TechnipFMC by 1,037.3% during the first quarter. Two Sigma Advisers LP now owns 627,800 shares of the oil and gas company’s stock worth $4,231,000 after purchasing an additional 572,600 shares in the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.
FTI has been the subject of several research analyst reports. Kepler Capital Markets reiterated a “hold” rating on shares of TechnipFMC in a research report on Friday, July 31st. Tudor Pickering upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. HSBC cut TechnipFMC from a “buy” rating to a “hold” rating and set a $9.20 target price for the company. in a research report on Friday, August 7th. Morgan Stanley increased their target price on TechnipFMC from $9.30 to $9.80 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Finally, ValuEngine lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $14.90.
TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.04 billion. TechnipFMC had a positive return on equity of 0.93% and a negative net margin of 42.22%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. As a group, analysts expect that TechnipFMC PLC will post 0.41 earnings per share for the current fiscal year.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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