Dorsey Wright & Associates Makes New $5.47 Million Investment in TechnipFMC plc $FTI

Dorsey Wright & Associates acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 122,678 shares of the oil and gas company’s stock, valued at approximately $5,467,000. TechnipFMC accounts for 1.2% of Dorsey Wright & Associates’ holdings, making the stock its 26th biggest position.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after buying an additional 3,549,839 shares during the period. State Street Corp boosted its stake in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares during the period. Invesco Ltd. boosted its stake in TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after buying an additional 4,437,960 shares during the period. Boston Partners increased its position in TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after acquiring an additional 192,549 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in TechnipFMC by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after acquiring an additional 193,244 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FTI has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Wednesday, May 6th. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research report on Friday, February 20th. Finally, UBS Group set a $80.00 price objective on shares of TechnipFMC in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 6,350 shares of TechnipFMC stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the sale, the director owned 59,887 shares in the company, valued at $4,151,366.84. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $65.05 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average is $71.28 and its two-hundred day moving average is $61.88. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The company has a market capitalization of $25.93 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69.

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

TechnipFMC Dividend Announcement

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

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.