Illinois Municipal Retirement Fund Has $2.40 Million Stock Holdings in TechnipFMC plc $FTI

Illinois Municipal Retirement Fund raised its stake in TechnipFMC plc (NYSE:FTI) by 63.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,691 shares of the oil and gas company’s stock after purchasing an additional 13,429 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in TechnipFMC were worth $2,398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FTI. V Square Quantitative Management LLC acquired a new stake in shares of TechnipFMC in the 1st quarter valued at approximately $26,000. Ascentis Independent Advisors bought a new position in shares of TechnipFMC in the first quarter valued at $37,000. Harbor Investment Advisory LLC acquired a new position in TechnipFMC during the fourth quarter worth $32,000. First Pacific Financial acquired a new position in TechnipFMC during the first quarter worth $52,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC during the third quarter worth $32,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.0%

Shares of FTI stock opened at $72.09 on Monday. TechnipFMC plc has a 12-month low of $31.88 and a 12-month high of $77.78. The company has a market capitalization of $28.74 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.70. The firm has a 50 day moving average price of $69.26 and a two-hundred day moving average price of $65.29. 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 earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion for 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, analysts predict that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FTI shares. Royal Bank Of Canada lifted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently 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.