Russell Investments Group Ltd. Purchases 66,518 Shares of TechnipFMC plc (NYSE:FTI)

Russell Investments Group Ltd. boosted its position in TechnipFMC plc (NYSE:FTI) by 22.1% in the fourth quarter, HoldingsChannel reports. The firm owned 367,959 shares of the oil and gas company’s stock after buying an additional 66,518 shares during the quarter. Russell Investments Group Ltd.’s holdings in TechnipFMC were worth $7,411,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after acquiring an additional 30,323,011 shares during the period. Invesco Ltd. raised its stake in shares of TechnipFMC by 75.7% during the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after purchasing an additional 5,587,050 shares during the period. American Century Companies Inc. boosted its holdings in shares of TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after buying an additional 3,283,972 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in TechnipFMC during the fourth quarter valued at about $37,976,000. Finally, Lord Abbett & CO. LLC increased its holdings in TechnipFMC by 68.7% during the third quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company’s stock worth $81,380,000 after buying an additional 1,629,170 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 1.4 %

Shares of NYSE:FTI opened at $26.73 on Wednesday. The firm has a fifty day moving average of $24.83 and a 200 day moving average of $21.79. TechnipFMC plc has a 52-week low of $13.11 and a 52-week high of $27.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The firm has a market capitalization of $11.52 billion, a PE ratio of 56.87 and a beta of 1.62.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, research analysts anticipate that TechnipFMC plc will post 1.16 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s payout ratio is presently 42.55%.

Insider Buying and Selling

In other news, Director Carvalho Filho Eleazar De sold 12,491 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now directly owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTI. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a research report on Friday, April 26th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price for the company. in a research report on Friday, February 23rd. Barclays upped their price target on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Piper Sandler lifted their price objective on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. Finally, StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.21.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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.