Lazard Asset Management LLC Has $63.83 Million Stock Holdings in TechnipFMC plc $FTI

Lazard Asset Management LLC boosted its position in TechnipFMC plc (NYSE:FTI) by 29.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 923,274 shares of the oil and gas company’s stock after acquiring an additional 208,692 shares during the period. Lazard Asset Management LLC’s holdings in TechnipFMC were worth $63,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in TechnipFMC during the 1st quarter valued at about $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of TechnipFMC in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. grew its position in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after buying an additional 340 shares during the period. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC during the 1st quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TechnipFMC during the fourth quarter worth approximately $41,000. 96.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Weiss Ratings raised TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, July 14th. Finally, Evercore restated an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Performance

Shares of FTI stock opened at $74.95 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The stock has a market cap of $29.88 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.61 and a beta of 0.70. The stock has a 50-day moving average of $69.56 and a 200-day moving average of $66.50. TechnipFMC plc has a one year low of $34.27 and a one year high of $77.92.

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

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.