Louisiana State Employees Retirement System Invests $8.11 Million in TechnipFMC plc $FTI

Louisiana State Employees Retirement System purchased a new position in TechnipFMC plc (NYSE:FTI) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 117,300 shares of the oil and gas company’s stock, valued at approximately $8,109,000.

Other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in TechnipFMC during the 3rd quarter worth $32,000. Harbor Investment Advisory LLC bought a new position in shares of TechnipFMC during the fourth quarter worth about $32,000. Geneos Wealth Management Inc. lifted its position in shares of TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in TechnipFMC in the fourth quarter worth about $41,000. Finally, Torren Management LLC bought a new stake in TechnipFMC in the fourth quarter valued at about $45,000. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler upped their price objective on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Citigroup boosted their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Susquehanna lifted their price objective on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a report on Friday, May 1st. Finally, Evercore reiterated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.00.

TechnipFMC Stock Performance

Shares of FTI stock opened at $67.09 on Friday. The company has a market cap of $26.75 billion, a P/E ratio of 25.61, a PEG ratio of 1.38 and a beta of 0.69. The business has a 50 day moving average of $70.54 and a two-hundred day moving average of $62.58. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, analysts anticipate that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

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.