Jennison Associates LLC boosted its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,087,266 shares of the oil and gas company’s stock after buying an additional 8,796 shares during the quarter. Jennison Associates LLC owned approximately 0.45% of TechnipFMC worth $49,092,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Worldquant Millennium Quantitative Strategies LLC lifted its stake in shares of TechnipFMC by 24.0% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 26,333 shares of the oil and gas company’s stock worth $516,000 after buying an additional 5,105 shares during the period. Nissay Asset Management Corp Japan ADV acquired a new position in TechnipFMC during the first quarter valued at $1,820,000. Swiss National Bank lifted its position in TechnipFMC by 2.6% during the first quarter. Swiss National Bank now owns 1,436,004 shares of the oil and gas company’s stock valued at $33,775,000 after purchasing an additional 35,800 shares during the period. CSat Investment Advisory L.P. lifted its position in TechnipFMC by 149.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,447 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 868 shares during the period. Finally, Biltmore Wealth Management LLC acquired a new position in TechnipFMC during the first quarter valued at $428,000. Institutional investors own 72.28% of the company’s stock.
A number of research firms have weighed in on FTI. Wells Fargo & Co lifted their price objective on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. ValuEngine raised shares of TechnipFMC from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Piper Jaffray Companies reissued a “buy” rating and set a $29.00 target price on shares of TechnipFMC in a research note on Monday, April 29th. HSBC raised shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $23.45 target price for the company in a research note on Friday, March 22nd. Finally, AltaCorp Capital reissued an “outperform” rating on shares of TechnipFMC in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $31.80.
TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.24). TechnipFMC had a positive return on equity of 2.23% and a negative net margin of 16.17%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The business’s revenue was down 6.8% compared to the same quarter last year. Analysts forecast that TechnipFMC PLC will post 1.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Monday, May 20th. TechnipFMC’s payout ratio is currently 63.41%.
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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