Bleakley Financial Group LLC Makes New Investment in TechnipFMC plc $FTI

Bleakley Financial Group LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) during the first quarter, HoldingsChannel.com reports. The fund acquired 35,778 shares of the oil and gas company’s stock, valued at approximately $2,473,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in TechnipFMC in the fourth quarter valued at $833,000. Fisher Asset Management LLC lifted its holdings in TechnipFMC by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock worth $18,200,000 after buying an additional 27,111 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of TechnipFMC during the 4th quarter worth about $641,000. Archford Capital Strategies LLC acquired a new position in shares of TechnipFMC during the 4th quarter worth about $1,691,000. Finally, Danske Bank A S purchased a new position in shares of TechnipFMC in the 3rd quarter valued at about $52,848,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Down 0.4%

FTI opened at $72.01 on Friday. The firm has a market cap of $28.71 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.54 and a beta of 0.70. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The business’s 50 day moving average is $69.22 and its two-hundred day moving average is $65.10. 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 posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. On average, research analysts predict that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FTI shares. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a report on Friday, May 1st. Wall Street Zen upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays raised their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.64.

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.