Jennison Associates LLC Has $50.92 Million Position in TechnipFMC plc (NYSE:FTI)

Jennison Associates LLC increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 44.8% during the fourth quarter, Holdings Channel reports. The fund owned 2,528,059 shares of the oil and gas company’s stock after acquiring an additional 782,290 shares during the quarter. Jennison Associates LLC’s holdings in TechnipFMC were worth $50,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FTI. Exchange Traded Concepts LLC acquired a new position in shares of TechnipFMC during the 3rd quarter worth approximately $2,633,000. Ballentine Partners LLC bought a new stake in TechnipFMC in the 3rd quarter valued at $203,000. Xponance Inc. boosted its stake in TechnipFMC by 128.1% in the 3rd quarter. Xponance Inc. now owns 34,638 shares of the oil and gas company’s stock valued at $705,000 after purchasing an additional 19,451 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in TechnipFMC by 14.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,994 shares of the oil and gas company’s stock valued at $264,000 after purchasing an additional 1,674 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in TechnipFMC by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,829 shares of the oil and gas company’s stock valued at $1,820,000 after purchasing an additional 13,265 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

TechnipFMC Price Performance

Shares of FTI stock opened at $25.82 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. TechnipFMC plc has a twelve month low of $12.64 and a twelve month high of $27.26. The company has a market cap of $11.28 billion, a P/E ratio of 215.14 and a beta of 1.65. The business has a fifty day simple moving average of $23.80 and a 200 day simple moving average of $21.43.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, topping 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 business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.90 billion. During the same period in the prior year, the company earned ($0.05) EPS. TechnipFMC’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, sell-side analysts forecast that TechnipFMC plc will post 1.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FTI. TD Cowen boosted their price target on TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Benchmark restated a “buy” rating and issued a $30.00 price target (up from $25.00) on shares of TechnipFMC in a research note on Monday, April 1st. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a research note on Friday, February 23rd. Bank of America boosted their price target on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.34.

TechnipFMC Company 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.