RK Capital Management LLC grew its position in TechnipFMC plc (NYSE:FTI – Free Report) by 18.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 841,100 shares of the oil and gas company’s stock after buying an additional 129,200 shares during the period. TechnipFMC accounts for about 3.0% of RK Capital Management LLC’s portfolio, making the stock its 12th largest position. RK Capital Management LLC owned approximately 0.19% of TechnipFMC worth $13,979,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of TechnipFMC by 11.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock valued at $718,398,000 after purchasing an additional 5,888,998 shares during the last quarter. Ameriprise Financial Inc. grew its position in TechnipFMC by 8.2% during the 1st quarter. Ameriprise Financial Inc. now owns 20,771,068 shares of the oil and gas company’s stock worth $283,566,000 after purchasing an additional 1,575,724 shares during the period. Van ECK Associates Corp lifted its holdings in shares of TechnipFMC by 16.7% in the 1st quarter. Van ECK Associates Corp now owns 10,919,212 shares of the oil and gas company’s stock valued at $149,047,000 after buying an additional 1,564,453 shares during the period. BlackRock Inc. lifted its holdings in shares of TechnipFMC by 11.6% in the 1st quarter. BlackRock Inc. now owns 9,915,455 shares of the oil and gas company’s stock valued at $76,845,000 after buying an additional 1,029,472 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of TechnipFMC by 3.8% in the first quarter. Franklin Resources Inc. now owns 9,034,050 shares of the oil and gas company’s stock worth $123,310,000 after buying an additional 333,563 shares during the last quarter. Hedge funds and other institutional investors own 98.79% of the company’s stock.
Wall Street Analysts Forecast Growth
FTI has been the topic of several recent research reports. Susquehanna upped their price objective on TechnipFMC from $22.00 to $25.00 and gave the stock a “positive” rating in a research report on Wednesday, October 4th. BNP Paribas lowered shares of TechnipFMC from an “outperform” rating to a “neutral” rating and set a $23.50 target price on the stock. in a research note on Monday, November 6th. Jefferies Financial Group lowered TechnipFMC from a “buy” rating to a “hold” rating and upped their price target for the company from $18.00 to $22.00 in a research report on Friday, October 13th. HSBC lifted their price objective on TechnipFMC from $13.80 to $23.20 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, BTIG Research raised their target price on TechnipFMC from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.71.
TechnipFMC Stock Up 1.5 %
NYSE FTI traded up $0.30 during trading hours on Monday, hitting $20.93. 1,658,589 shares of the company were exchanged, compared to its average volume of 5,841,355. The company has a 50 day moving average of $20.79 and a two-hundred day moving average of $18.03. TechnipFMC plc has a 52-week low of $11.09 and a 52-week high of $22.78. The company has a quick ratio of 0.93, a current ratio of 1.19 and a debt-to-equity ratio of 0.32. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -257.88 and a beta of 1.73.
TechnipFMC (NYSE:FTI – Get Free Report) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.98 billion. TechnipFMC had a negative net margin of 0.46% and a positive return on equity of 3.70%. TechnipFMC’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Equities research analysts anticipate that TechnipFMC plc will post 0.47 earnings per share for the current year.
TechnipFMC Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Tuesday, November 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, November 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.96%. TechnipFMC’s dividend payout ratio is presently -250.00%.
TechnipFMC declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 26th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
TechnipFMC Company Profile
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.
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