Schroder Investment Management Group Acquires 199,247 Shares of TechnipFMC plc $FTI

Schroder Investment Management Group raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 17.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,315,766 shares of the oil and gas company’s stock after purchasing an additional 199,247 shares during the quarter. Schroder Investment Management Group’s holdings in TechnipFMC were worth $52,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of TechnipFMC by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after buying an additional 232,491 shares during the period. AQR Capital Management LLC grew its position in TechnipFMC by 13.8% in the second quarter. AQR Capital Management LLC now owns 9,938,410 shares of the oil and gas company’s stock valued at $342,279,000 after acquiring an additional 1,202,713 shares during the period. Boston Partners raised its stake in TechnipFMC by 267.5% during the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock worth $333,041,000 after acquiring an additional 7,038,640 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TechnipFMC by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,763,630 shares of the oil and gas company’s stock valued at $187,942,000 after acquiring an additional 137,507 shares during the period. Finally, Norges Bank acquired a new stake in shares of TechnipFMC in the 2nd quarter valued at $151,413,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on FTI. The Goldman Sachs Group increased their target price on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research upgraded shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of TechnipFMC in a research note on Friday, February 20th. Finally, UBS Group set a $70.00 target price on TechnipFMC in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.47.

TechnipFMC Stock Up 2.3%

Shares of FTI opened at $64.92 on Wednesday. The firm has a market capitalization of $25.97 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.89 and a current ratio of 1.13. The business’s fifty day moving average price is $57.32 and its two-hundred day moving average price is $46.91. TechnipFMC plc has a 52 week low of $22.11 and a 52 week high of $68.29.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, March 17th. TechnipFMC’s dividend payout ratio (DPR) is presently 8.66%.

Insider Buying and Selling

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 6,350 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the sale, the director directly owned 97,860 shares of the company’s stock, valued at approximately $6,400,044. The trade was a 6.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

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.