Sentry Investment Management LLC decreased its holdings in TechnipFMC PLC (NYSE:FTI) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,110 shares of the oil and gas company’s stock after selling 2,633 shares during the quarter. Sentry Investment Management LLC’s holdings in TechnipFMC were worth $591,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in FTI. Mason Street Advisors LLC grew its stake in TechnipFMC by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 60,700 shares of the oil and gas company’s stock valued at $1,428,000 after acquiring an additional 715 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in TechnipFMC by 7.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,874 shares of the oil and gas company’s stock valued at $585,000 after purchasing an additional 1,663 shares in the last quarter. Raymond James & Associates lifted its holdings in TechnipFMC by 29.0% in the 1st quarter. Raymond James & Associates now owns 171,516 shares of the oil and gas company’s stock valued at $4,015,000 after purchasing an additional 38,542 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in TechnipFMC by 3.9% in the 1st quarter. Moors & Cabot Inc. now owns 21,445 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 800 shares in the last quarter. Finally, Outlook Wealth Advisors LLC lifted its holdings in TechnipFMC by 353.6% in the 1st quarter. Outlook Wealth Advisors LLC now owns 26,606 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 20,741 shares in the last quarter. Hedge funds and other institutional investors own 71.85% of the company’s stock.
A number of research firms have issued reports on FTI. Wells Fargo & Co upped their target price on shares of TechnipFMC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. ValuEngine upgraded shares of TechnipFMC from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Piper Jaffray Companies restated a “buy” rating and issued a $29.00 target price on shares of TechnipFMC in a report on Monday, April 29th. HSBC upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $23.45 target price on the stock in a report on Friday, March 22nd. Finally, Berenberg Bank began coverage on shares of TechnipFMC in a report on Tuesday, February 26th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. TechnipFMC currently has an average rating of “Buy” and an average price target of $31.80.
Shares of FTI stock opened at $22.01 on Friday. The stock has a market cap of $9.86 billion, a PE ratio of 26.84, a P/E/G ratio of 3.00 and a beta of 1.25. TechnipFMC PLC has a 1-year low of $18.20 and a 1-year high of $33.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.03 and a current ratio of 1.17.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.24). The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3.13 billion. TechnipFMC had a positive return on equity of 2.23% and a negative net margin of 16.17%. The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 earnings per share. Analysts forecast that TechnipFMC PLC will post 1.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 2.36%. TechnipFMC’s payout ratio is currently 63.41%.
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TechnipFMC Company 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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