TechnipFMC plc $FTI Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI) by 65.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,336,215 shares of the oil and gas company’s stock after purchasing an additional 527,215 shares during the period. Gotham Asset Management LLC’s holdings in TechnipFMC were worth $59,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FTI. Archford Capital Strategies LLC acquired a new stake in TechnipFMC in the fourth quarter valued at about $1,691,000. Danske Bank A S acquired a new stake in TechnipFMC in the third quarter valued at $52,848,000. Farther Finance Advisors LLC boosted its position in shares of TechnipFMC by 394.3% during the 4th quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock worth $528,000 after purchasing an additional 9,451 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of TechnipFMC during the 4th quarter worth $833,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of TechnipFMC in the 4th quarter valued at about $641,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FTI shares. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $49.00 to $62.00 in a report on Friday, February 20th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday, June 3rd. Piper Sandler upped their price objective 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. BMO Capital Markets lifted their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Finally, Royal Bank Of Canada boosted their price target on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.71.

TechnipFMC Price Performance

FTI opened at $67.24 on Thursday. TechnipFMC plc has a 1 year low of $31.88 and a 1 year high of $77.78. The company’s 50 day simple moving average is $71.44 and its 200 day simple moving average is $61.74. The stock has a market capitalization of $26.81 billion, a PE ratio of 25.66, a P/E/G ratio of 1.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, sell-side analysts expect that TechnipFMC plc will post 2.98 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 7.63%.

Insiders Place Their Bets

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

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.