Lansforsakringar Fondforvaltning AB publ Has $8.99 Million Holdings in TechnipFMC plc $FTI

Lansforsakringar Fondforvaltning AB publ increased its stake in shares of TechnipFMC plc (NYSE:FTI) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,774 shares of the oil and gas company’s stock after acquiring an additional 13,620 shares during the period. Lansforsakringar Fondforvaltning AB publ owned about 0.06% of TechnipFMC worth $8,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. Massachusetts Financial Services Co. MA raised its stake in shares of TechnipFMC by 2.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock valued at $409,262,000 after purchasing an additional 232,491 shares during the period. AQR Capital Management LLC grew its holdings in shares of TechnipFMC by 13.8% during the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock worth $342,279,000 after buying an additional 1,202,713 shares in the last quarter. Boston Partners raised its position in TechnipFMC by 267.5% in the 2nd quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after buying an additional 7,038,640 shares during the last quarter. Norges Bank bought a new stake in TechnipFMC in the 2nd quarter valued at approximately $151,413,000. Finally, Pacer Advisors Inc. boosted its position in TechnipFMC by 91.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock worth $151,382,000 after acquiring an additional 1,833,601 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Up 1.0%

Shares of FTI stock opened at $64.15 on Tuesday. TechnipFMC plc has a 52-week low of $22.11 and a 52-week high of $64.99. The stock has a market cap of $25.66 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.23 and a beta of 0.69. The firm’s 50-day moving average is $52.74 and its 200-day moving average is $44.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13.

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

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

FTI has been the topic of a number of recent research reports. Susquehanna lifted their price objective on shares of TechnipFMC from $56.00 to $71.00 and gave the company a “positive” rating in a report on Friday. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Jefferies Financial Group boosted their price target on shares of TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. BMO Capital Markets raised their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday. Finally, TD Cowen reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.93.

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.