BNP Paribas Financial Markets lessened its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 45.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 444,145 shares of the oil and gas company's stock after selling 375,312 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.10% of TechnipFMC worth $8,945,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company's stock worth $809,303,000 after acquiring an additional 30,323,011 shares during the period. Invesco Ltd. grew its position in TechnipFMC by 75.7% in the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company's stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the last quarter. American Century Companies Inc. grew its position in TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company's stock worth $108,048,000 after purchasing an additional 3,283,972 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in TechnipFMC in the 4th quarter worth about $37,976,000. Finally, Lord Abbett & CO. LLC grew its position in TechnipFMC by 68.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company's stock worth $81,380,000 after purchasing an additional 1,629,170 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.
Analyst Upgrades and Downgrades
FTI has been the subject of several recent analyst reports. HSBC cut shares of TechnipFMC from a "buy" rating to a "hold" rating and set a $23.60 target price for the company. in a research report on Friday, February 23rd. StockNews.com upgraded shares of TechnipFMC from a "hold" rating to a "buy" rating in a report on Sunday, April 28th. Bank of America increased their price objective on shares of TechnipFMC from $24.00 to $28.50 and gave the company a "buy" rating in a report on Monday, April 15th. Piper Sandler increased their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, May 6th. Finally, TD Cowen increased their price objective on shares of TechnipFMC from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.21.
View Our Latest Stock Analysis on FTI
TechnipFMC Trading Up 0.1 %
Shares of NYSE:FTI traded up $0.02 during mid-day trading on Friday, hitting $26.49. The stock had a trading volume of 2,474,813 shares, compared to its average volume of 3,439,731. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The company has a market cap of $11.42 billion, a PE ratio of 56.36 and a beta of 1.61. TechnipFMC plc has a 12-month low of $13.11 and a 12-month high of $27.30. The company's 50 day moving average is $25.67 and its 200-day moving average is $22.14.
TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.96 billion. The company's revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts predict that TechnipFMC plc will post 1.18 EPS for the current year.
TechnipFMC Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. TechnipFMC's payout ratio is 42.55%.
Insiders Place Their Bets
In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total value of $264,809.20. Following the completion of the sale, the director now owns 103,982 shares in the company, valued at approximately $2,204,418.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.06% of the company's stock.
About TechnipFMC
(Free Report)
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.
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