Teachers Retirement System of The State of Kentucky Has $47.89 Million Position in TechnipFMC plc $FTI

Teachers Retirement System of The State of Kentucky boosted its stake in TechnipFMC plc (NYSE:FTI) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 692,800 shares of the oil and gas company’s stock after purchasing an additional 47,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.17% of TechnipFMC worth $47,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversify Wealth Management LLC boosted its position in shares of TechnipFMC by 19.9% during the 1st quarter. Diversify Wealth Management LLC now owns 16,956 shares of the oil and gas company’s stock worth $1,172,000 after purchasing an additional 2,811 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in TechnipFMC in the 1st quarter valued at about $793,000. Citizens Financial Group Inc. RI increased its position in TechnipFMC by 71.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 14,998 shares of the oil and gas company’s stock valued at $1,038,000 after buying an additional 6,270 shares in the last quarter. Fifth Third Bancorp raised its stake in TechnipFMC by 28.1% during the 1st quarter. Fifth Third Bancorp now owns 17,778 shares of the oil and gas company’s stock worth $1,229,000 after buying an additional 3,895 shares during the period. Finally, Summit Securities Group LLC acquired a new position in TechnipFMC during the 1st quarter worth approximately $60,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

TechnipFMC stock opened at $71.79 on Monday. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The company’s 50 day moving average price is $69.30 and its two-hundred day moving average price is $64.30. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a market cap of $28.62 billion, a P/E ratio of 27.40, a P/E/G ratio of 1.53 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities analysts predict that TechnipFMC plc will post 3.01 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Analyst Ratings Changes

A number of equities research analysts have commented on FTI shares. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Wall Street Zen upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Piper Sandler boosted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC 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.