BlackRock Inc. reduced its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,588,593 shares of the oil and gas company’s stock after selling 1,257,899 shares during the quarter. BlackRock Inc. owned approximately 4.20% of TechnipFMC worth $460,725,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of FTI. Norges Bank acquired a new stake in shares of TechnipFMC in the fourth quarter worth approximately $210,592,000. Amundi Pioneer Asset Management Inc. lifted its position in TechnipFMC by 69.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,834,598 shares of the oil and gas company’s stock valued at $388,362,000 after buying an additional 8,097,644 shares in the last quarter. Aviva PLC lifted its position in TechnipFMC by 106.1% during the fourth quarter. Aviva PLC now owns 10,029,403 shares of the oil and gas company’s stock valued at $202,577,000 after buying an additional 5,162,133 shares in the last quarter. Pzena Investment Management LLC lifted its position in TechnipFMC by 141.3% during the first quarter. Pzena Investment Management LLC now owns 4,977,275 shares of the oil and gas company’s stock valued at $117,066,000 after buying an additional 2,914,800 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in TechnipFMC by 1,834.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 926,996 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 879,078 shares in the last quarter. Hedge funds and other institutional investors own 72.28% of the company’s stock.
Shares of NYSE FTI traded up $0.17 during trading hours on Monday, hitting $26.11. The stock had a trading volume of 4,059,000 shares, compared to its average volume of 3,935,892. The firm has a market capitalization of $11.62 billion, a P/E ratio of 31.56, a P/E/G ratio of 3.29 and a beta of 1.45. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $22.85. TechnipFMC PLC has a 52 week low of $18.20 and a 52 week high of $33.60.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st were given a $0.13 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 1.99%.
FTI has been the topic of a number of recent research reports. ValuEngine cut shares of TechnipFMC from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Goldman Sachs Group initiated coverage on shares of TechnipFMC in a research note on Sunday, March 10th. They set a “buy” rating on the stock. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $23.45 price objective on the stock in a research note on Friday, March 22nd. Wells Fargo & Co lifted their price target on shares of TechnipFMC from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $29.00 price target on shares of TechnipFMC in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.80.
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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