Commonwealth Equity Services LLC Takes Position in TechnipFMC plc (NYSE:FTI)

Commonwealth Equity Services LLC acquired a new position in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 10,072 shares of the oil and gas company’s stock, valued at approximately $263,000.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in TechnipFMC by 8.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after purchasing an additional 3,259,348 shares during the last quarter. Vanguard Group Inc. grew its position in TechnipFMC by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after buying an additional 134,880 shares during the period. Goldman Sachs Group Inc. grew its position in TechnipFMC by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock valued at $70,864,000 after buying an additional 85,451 shares during the period. Balyasny Asset Management L.P. increased its holdings in TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after buying an additional 2,808,618 shares during the last quarter. Finally, Norges Bank bought a new position in TechnipFMC in the fourth quarter worth approximately $61,570,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Susquehanna raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.51.

TechnipFMC Stock Performance

NYSE FTI opened at $27.81 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. TechnipFMC plc has a twelve month low of $18.33 and a twelve month high of $29.85. The business has a 50-day moving average price of $26.50 and a 200-day moving average price of $25.96. The firm has a market cap of $11.99 billion, a price-to-earnings ratio of 59.17 and a beta of 1.50.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 1.34 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.72%. TechnipFMC’s payout ratio is 42.55%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.