Bank of Nova Scotia Acquires 160,657 Shares of TechnipFMC plc (NYSE:FTI)

Bank of Nova Scotia lifted its position in TechnipFMC plc (NYSE:FTIFree Report) by 109.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,760 shares of the oil and gas company’s stock after acquiring an additional 160,657 shares during the period. Bank of Nova Scotia owned approximately 0.07% of TechnipFMC worth $6,198,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $29,000. Johnson Financial Group Inc. acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $45,000. Systematic Alpha Investments LLC acquired a new stake in shares of TechnipFMC in the 3rd quarter valued at approximately $146,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of TechnipFMC in the 4th quarter valued at approximately $203,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FTI shares. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a report on Friday, February 23rd. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of TechnipFMC in a report on Friday, April 26th. Piper Sandler lifted their price objective on shares of TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Susquehanna lifted their price objective on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.21.

Check Out Our Latest Research Report on TechnipFMC

TechnipFMC Trading Down 0.7 %

FTI stock opened at $24.32 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The company has a fifty day moving average price of $26.02 and a two-hundred day moving average price of $22.52. TechnipFMC plc has a one year low of $14.12 and a one year high of $27.30. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 51.74 and a beta of 1.58.

TechnipFMC (NYSE:FTIGet Free Report) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.96 billion. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities analysts anticipate that TechnipFMC plc will post 1.18 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Monday, May 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

About TechnipFMC

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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