TechnipFMC PLC (NYSE:FTI) Shares Purchased by Lapides Asset Management LLC

Lapides Asset Management LLC increased its stake in shares of TechnipFMC PLC (NYSE:FTI) by 298.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 300,800 shares of the oil and gas company’s stock after purchasing an additional 225,400 shares during the quarter. Lapides Asset Management LLC’s holdings in TechnipFMC were worth $2,057,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Northeast Financial Consultants Inc acquired a new stake in TechnipFMC during the 2nd quarter worth $182,000. State of Michigan Retirement System raised its stake in TechnipFMC by 10.8% during the 2nd quarter. State of Michigan Retirement System now owns 106,679 shares of the oil and gas company’s stock worth $730,000 after acquiring an additional 10,379 shares in the last quarter. Duality Advisers LP acquired a new stake in TechnipFMC during the 2nd quarter worth $5,469,000. Deltec Asset Management LLC acquired a new stake in TechnipFMC during the 2nd quarter worth $1,912,000. Finally, Viking Fund Management LLC acquired a new stake in TechnipFMC during the 2nd quarter worth $1,163,000. Hedge funds and other institutional investors own 77.67% of the company’s stock.

NYSE FTI traded up $0.02 during trading hours on Friday, reaching $8.03. 9,298,949 shares of the company traded hands, compared to its average volume of 5,811,943. TechnipFMC PLC has a 12 month low of $4.49 and a 12 month high of $28.18. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $3.60 billion, a PE ratio of -0.64, a PEG ratio of 1.39 and a beta of 1.92. The company has a 50 day moving average of $7.55 and a two-hundred day moving average of $10.38.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. TechnipFMC had a negative net margin of 42.22% and a positive return on equity of 0.93%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that TechnipFMC PLC will post 0.26 earnings per share for the current year.

Several brokerages recently commented on FTI. Jefferies Financial Group lowered shares of TechnipFMC from a “hold” rating to an “underperform” rating and cut their price target for the stock from $7.00 to $6.00 in a research note on Thursday, May 14th. Kepler Capital Markets restated a “hold” rating on shares of TechnipFMC in a research note on Friday. Morgan Stanley lifted their price objective on shares of TechnipFMC from $8.00 to $9.30 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Barclays dropped their price objective on shares of TechnipFMC from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Finally, Sanford C. Bernstein upgraded shares of TechnipFMC from an “underperform” rating to an “outperform” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. TechnipFMC has a consensus rating of “Buy” and a consensus price target of $15.28.

TechnipFMC 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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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