Alberta Investment Management Corp purchased a new stake in TechnipFMC PLC (NYSE:FTI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 65,200 shares of the oil and gas company’s stock, valued at approximately $1,574,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. ETRADE Capital Management LLC boosted its holdings in TechnipFMC by 108.9% in the second quarter. ETRADE Capital Management LLC now owns 25,891 shares of the oil and gas company’s stock valued at $672,000 after purchasing an additional 13,496 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in TechnipFMC by 116.3% in the second quarter. Rockefeller Capital Management L.P. now owns 1,728 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 929 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in TechnipFMC by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,679,734 shares of the oil and gas company’s stock valued at $43,573,000 after purchasing an additional 38,481 shares in the last quarter. Primecap Management Co. CA boosted its holdings in TechnipFMC by 92.3% in the second quarter. Primecap Management Co. CA now owns 197,100 shares of the oil and gas company’s stock valued at $5,113,000 after purchasing an additional 94,600 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its holdings in TechnipFMC by 13.0% in the second quarter. NEXT Financial Group Inc now owns 3,624 shares of the oil and gas company’s stock valued at $94,000 after purchasing an additional 416 shares in the last quarter. 76.08% of the stock is owned by hedge funds and other institutional investors.
TechnipFMC stock opened at $20.93 on Tuesday. TechnipFMC PLC has a 12 month low of $18.20 and a 12 month high of $28.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.18 and a quick ratio of 1.04. The business has a 50 day simple moving average of $23.62 and a 200-day simple moving average of $24.08. The stock has a market capitalization of $9.27 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46.
TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.38). TechnipFMC had a positive return on equity of 2.11% and a negative net margin of 16.30%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the company earned $1.09 EPS. TechnipFMC’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that TechnipFMC PLC will post 1.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, November 18th.
FTI has been the subject of a number of research analyst reports. Royal Bank of Canada set a $30.00 price target on TechnipFMC and gave the company a “buy” rating in a report on Friday. Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of TechnipFMC in a report on Thursday, July 11th. Citigroup upped their price target on TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a report on Tuesday, July 30th. BMO Capital Markets set a $32.00 price target on TechnipFMC and gave the company a “buy” rating in a report on Friday, July 26th. Finally, ValuEngine raised TechnipFMC from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. TechnipFMC presently has an average rating of “Buy” and an average price target of $29.23.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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