Quantinno Capital Management LP Acquires 23,834 Shares of TechnipFMC plc $FTI

Quantinno Capital Management LP increased its holdings in TechnipFMC plc (NYSE:FTI) by 40.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,415 shares of the oil and gas company’s stock after acquiring an additional 23,834 shares during the period. Quantinno Capital Management LP’s holdings in TechnipFMC were worth $5,767,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in TechnipFMC during the fourth quarter worth $833,000. Fisher Asset Management LLC lifted its stake in TechnipFMC by 7.1% in the fourth quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock valued at $18,200,000 after purchasing an additional 27,111 shares during the last quarter. HighTower Advisors LLC increased its position in TechnipFMC by 54.7% in the fourth quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company’s stock worth $2,087,000 after buying an additional 16,562 shares during the last quarter. Todd Asset Management LLC increased its position in TechnipFMC by 52.2% in the fourth quarter. Todd Asset Management LLC now owns 825,835 shares of the oil and gas company’s stock worth $36,800,000 after buying an additional 283,129 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of TechnipFMC by 394.3% in the fourth quarter. Farther Finance Advisors LLC now owns 11,848 shares of the oil and gas company’s stock valued at $528,000 after buying an additional 9,451 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $69.67 on Friday. The company has a market capitalization of $27.32 billion, a P/E ratio of 24.19, a PEG ratio of 1.45 and a beta of 0.72. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $77.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The stock has a 50 day moving average price of $69.50 and a two-hundred day moving average price of $67.61.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 3.03 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is 6.94%.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Citigroup raised their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, Piper Sandler raised their price target on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

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.