Van ECK Associates Corp Has $62.61 Million Position in TechnipFMC plc $FTI

Van ECK Associates Corp trimmed its stake in TechnipFMC plc (NYSE:FTI) by 14.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,586,976 shares of the oil and gas company’s stock after selling 278,533 shares during the period. Van ECK Associates Corp owned about 0.39% of TechnipFMC worth $62,606,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC grew its position in shares of TechnipFMC by 38.0% during the 3rd 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 increased its holdings in shares of TechnipFMC by 461.7% in the third 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 raised its position in shares of TechnipFMC by 80.6% during the third quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock worth $125,144,000 after purchasing an additional 1,415,621 shares during the period. Rothschild Investment LLC lifted its holdings 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 increased its stake in 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 worth $12,053,000 after purchasing an additional 23,600 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the transaction, the director directly owned 97,860 shares in the company, valued at $6,400,044. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FTI shares. UBS Group set a $70.00 price target on shares of TechnipFMC in a research note on Friday, February 20th. Royal Bank Of Canada raised their price objective on shares of TechnipFMC from $47.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their price target on TechnipFMC from $55.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Zacks Research upgraded 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 issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.47.

TechnipFMC Stock Up 2.3%

FTI stock opened at $64.92 on Wednesday. The company has a market cap of $25.97 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.17 and a beta of 0.70. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $68.29. The business has a 50 day moving average price of $57.32 and a two-hundred day moving average price of $46.91. The company has a quick ratio of 0.89, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data 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 company had revenue of $2.52 billion for 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%.The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Analysts anticipate that TechnipFMC plc will post 1.63 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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%.

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.