TechnipFMC plc $FTI is Dorsey Wright & Associates’ 8th Largest Position

Dorsey Wright & Associates raised its position in TechnipFMC plc (NYSE:FTI) by 127.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 279,064 shares of the oil and gas company’s stock after acquiring an additional 156,386 shares during the period. TechnipFMC makes up about 2.4% of Dorsey Wright & Associates’ holdings, making the stock its 8th largest holding. Dorsey Wright & Associates’ holdings in TechnipFMC were worth $19,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the last quarter. State Street Corp lifted its holdings 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 valued at $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Invesco Ltd. lifted its holdings 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 valued at $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Boston Partners boosted 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 worth $389,018,000 after purchasing an additional 192,549 shares during the period. Finally, Geode Capital Management LLC boosted 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 worth $337,714,000 after purchasing an additional 193,244 shares during the period. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FTI. Evercore reiterated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Piper Sandler raised their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada lifted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Barclays boosted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Up 0.1%

Shares of NYSE:FTI opened at $72.09 on Friday. The firm has a fifty day moving average price of $69.26 and a two-hundred day moving average price of $65.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. TechnipFMC plc has a one year low of $31.88 and a one year high of $77.78. The company has a market cap of $28.74 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.51 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last released its quarterly 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 firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Analysts anticipate that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

TechnipFMC Company 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.