Van ECK Associates Corp Decreases Stock Position in TechnipFMC plc $FTI

Van ECK Associates Corp trimmed its position in shares of TechnipFMC plc (NYSE:FTI) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,607,901 shares of the oil and gas company’s stock after selling 495,115 shares during the period. Van ECK Associates Corp’s holdings in TechnipFMC were worth $172,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter valued at about $3,081,514,000. AQR Capital Management LLC increased its position in shares of TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the last quarter. State Street Corp increased its position in shares of TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Invesco Ltd. lifted its stake in shares of TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after acquiring an additional 4,437,960 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after acquiring an additional 192,549 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI stock opened at $75.81 on Friday. The stock’s 50 day simple moving average is $72.07 and its 200 day simple moving average is $69.86. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.55. The firm has a market cap of $29.73 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.56 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 (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

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

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Citigroup raised their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.64.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

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.