Bank of New York Mellon Corp Has $34.58 Million Holdings in TechnipFMC plc (NYSE:FTI)

Bank of New York Mellon Corp increased its holdings in TechnipFMC plc (NYSE:FTI) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,322,346 shares of the oil and gas company’s stock after purchasing an additional 126,142 shares during the period. Bank of New York Mellon Corp owned approximately 0.31% of TechnipFMC worth $34,579,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of TechnipFMC by 8.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after purchasing an additional 134,880 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of TechnipFMC by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock worth $70,864,000 after buying an additional 85,451 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of TechnipFMC by 868.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares during the period. Finally, Norges Bank acquired a new position in TechnipFMC in the 4th quarter valued at $61,570,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTI has been the subject of a number of research analyst reports. Susquehanna boosted their target price on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Citigroup raised their target price on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Piper Sandler lifted their price target on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.38.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total value of $153,001.68. Following the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.06% of the stock is currently owned by insiders.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $26.84 on Tuesday. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 57.11 and a beta of 1.52. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85. The business has a fifty day simple moving average of $26.89 and a 200 day simple moving average of $25.52. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts expect that TechnipFMC plc will post 1.34 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio is currently 42.55%.

TechnipFMC 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.