Piedmont Investment Advisors Inc. Acquires 79,947 Shares of TechnipFMC PLC (FTI)
Piedmont Investment Advisors Inc. grew its holdings in TechnipFMC PLC (NYSE:FTI) by 83.2% in the 1st quarter, HoldingsChannel reports. The fund owned 176,067 shares of the oil and gas company’s stock after purchasing an additional 79,947 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in TechnipFMC were worth $4,141,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Mraz Amerine & Associates Inc. acquired a new position in TechnipFMC during the 1st quarter valued at $230,000. Barings LLC acquired a new position in TechnipFMC during the 1st quarter valued at $226,000. Dean Investment Associates LLC acquired a new position in TechnipFMC during the 1st quarter valued at $425,000. US Bancorp DE raised its stake in TechnipFMC by 26.8% during the 1st quarter. US Bancorp DE now owns 10,388 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 2,198 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in TechnipFMC by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 60,700 shares of the oil and gas company’s stock valued at $1,428,000 after purchasing an additional 715 shares during the last quarter. 71.85% of the stock is owned by institutional investors.
Shares of FTI stock opened at $22.14 on Friday. TechnipFMC PLC has a 52-week low of $18.20 and a 52-week high of $33.60. The firm has a market capitalization of $10.54 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 3.00 and a beta of 1.25. 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 also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, May 20th.
A number of equities analysts have recently issued reports on FTI shares. Goldman Sachs Group started coverage on shares of TechnipFMC in a research note on Sunday, March 10th. They issued a “buy” rating for the company. ValuEngine cut shares of TechnipFMC from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Barclays dropped their price objective on shares of TechnipFMC from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 15th. Morgan Stanley set a $31.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, Wells Fargo & Co set a $26.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $31.80.
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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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