Intech Investment Management LLC Raises Position in TechnipFMC plc $FTI

Intech Investment Management LLC increased its stake in TechnipFMC plc (NYSE:FTI) by 227.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,345 shares of the oil and gas company’s stock after buying an additional 21,785 shares during the quarter. Intech Investment Management LLC’s holdings in TechnipFMC were worth $1,237,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Hantz Financial Services Inc. increased its position in TechnipFMC by 1.5% during the third quarter. Hantz Financial Services Inc. now owns 24,019 shares of the oil and gas company’s stock worth $948,000 after acquiring an additional 365 shares during the period. Gries Financial LLC raised its stake in TechnipFMC by 6.2% during the 3rd quarter. Gries Financial LLC now owns 6,745 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 391 shares during the last quarter. SG Americas Securities LLC boosted its holdings in TechnipFMC by 2.9% in the 3rd quarter. SG Americas Securities LLC now owns 14,508 shares of the oil and gas company’s stock valued at $572,000 after purchasing an additional 408 shares during the period. Finally, Quadcap Wealth Management LLC boosted its holdings in TechnipFMC by 3.3% in the 2nd quarter. Quadcap Wealth Management LLC now owns 16,256 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 521 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group set a $70.00 price objective on shares of TechnipFMC in a report on Friday, February 20th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and lifted their target price for the stock from $49.00 to $62.00 in a research report on Friday, February 20th. Royal Bank Of Canada boosted their price target on TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. The Goldman Sachs Group upped their price target on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.47.

TechnipFMC Stock Down 2.3%

Shares of FTI opened at $62.93 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $56.56 and a two-hundred day moving average price of $46.43. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 1.17 and a beta of 0.70. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $68.29.

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

TechnipFMC Dividend Announcement

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 given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio is 8.66%.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the transaction, the director directly owned 97,860 shares in the company, valued at $6,400,044. This represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

TechnipFMC Company 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.