Horizon Investment Services LLC Acquires New Holdings in TechnipFMC plc $FTI

Horizon Investment Services LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, HoldingsChannel reports. The fund bought 42,728 shares of the oil and gas company’s stock, valued at approximately $2,833,000.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp raised its stake in shares of TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank purchased a new position in shares of TechnipFMC during the 4th quarter worth approximately $205,468,000. Invesco Ltd. boosted its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the period. AQR Capital Management LLC increased its holdings in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after purchasing an additional 3,549,839 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in TechnipFMC in the second quarter valued at approximately $173,262,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Up 0.0%

TechnipFMC stock opened at $78.63 on Monday. The firm has a market capitalization of $30.84 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.62 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $79.23. The stock’s fifty day simple moving average is $70.30 and its 200-day simple moving average is $68.51.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the business posted $0.68 earnings per share. TechnipFMC’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Analysts Set New Price Targets

Several research firms have recently commented on FTI. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Royal Bank Of Canada raised their target price on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Barclays lifted their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup boosted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC 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.