TechnipFMC plc $FTI Stock: Pictet Asset Management Holding SA Boosts Holdings

Pictet Asset Management Holding SA grew its position in shares of TechnipFMC plc (NYSE:FTI) by 23.0% in the 3rd quarter, Holdings Channel reports. The firm owned 185,043 shares of the oil and gas company’s stock after acquiring an additional 34,544 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TechnipFMC were worth $12,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTI. Coppell Advisory Solutions LLC bought a new position in TechnipFMC during the second quarter worth $35,000. Keating Financial Advisory Services Inc. bought a new position in TechnipFMC in the 2nd quarter valued at about $37,000. Latitude Advisors LLC purchased a new stake in shares of TechnipFMC in the third quarter worth approximately $41,000. Ameritas Advisory Services LLC purchased a new stake in shares of TechnipFMC in the second quarter worth approximately $44,000. Finally, Covestor Ltd lifted its holdings in shares of TechnipFMC by 55.6% in the third quarter. Covestor Ltd now owns 742 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 265 shares in the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TechnipFMC

In other news, insider Thierry Conti sold 6,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the transaction, the insider owned 85,813 shares of the company’s stock, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by company insiders.

TechnipFMC Trading Down 0.6%

Shares of FTI stock opened at $64.97 on Friday. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.01 and a beta of 0.89. The company’s fifty day simple moving average is $70.10 and its two-hundred day simple moving average is $69.52. TechnipFMC plc has a 1 year low of $42.46 and a 1 year high of $80.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.09 and a quick ratio of 0.86.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.17. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.79 billion. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. As a group, analysts anticipate that TechnipFMC plc will post 3.31 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Tuesday, November 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, November 17th. TechnipFMC’s dividend payout ratio (DPR) is presently 6.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FTI shares. Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, October 30th. Piper Sandler increased their price target on TechnipFMC from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Barclays boosted their price objective on TechnipFMC from $86.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. UBS Group began coverage on shares of TechnipFMC in a report on Monday, October 12th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $78.18.

TechnipFMC Company Profile

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services. Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.