SG Americas Securities LLC Raises Stock Position in TechnipFMC plc $FTI

SG Americas Securities LLC raised its position in TechnipFMC plc (NYSE:FTI) by 182.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,441,583 shares of the oil and gas company’s stock after acquiring an additional 931,697 shares during the period. SG Americas Securities LLC’s holdings in TechnipFMC were worth $99,657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTI. State Street Corp raised its position in shares of TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after buying an additional 4,938,498 shares during the period. Norges Bank purchased a new position in TechnipFMC in the fourth quarter worth approximately $205,468,000. Invesco Ltd. increased 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 acquiring an additional 4,437,960 shares during the last quarter. AQR Capital Management LLC increased its stake in TechnipFMC by 26.7% during the fourth 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. Finally, Alliancebernstein L.P. raised its position in TechnipFMC by 184.0% in the third quarter. Alliancebernstein L.P. now owns 4,802,525 shares of the oil and gas company’s stock valued at $189,460,000 after purchasing an additional 3,111,399 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 6,350 shares of the business’s 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 sale, the director directly owned 59,887 shares in the company, valued at $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on FTI. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Susquehanna upped their target price on shares of TechnipFMC from $83.00 to $90.00 and gave the company a “positive” rating in a research report on Friday, May 1st. BMO Capital Markets increased their target price on shares of TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, February 23rd. Finally, Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

TechnipFMC Trading Down 0.2%

FTI opened at $65.05 on Monday. TechnipFMC plc has a 52 week low of $31.88 and a 52 week high of $77.78. The business has a fifty day simple moving average of $71.14 and a 200-day simple moving average of $62.01. The firm has a market cap of $25.93 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.40 and a beta of 0.69. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given 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 payout ratio is currently 7.63%.

About TechnipFMC

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.