Cetera Investment Advisers Raises Stock Holdings in TechnipFMC plc (NYSE:FTI)

Cetera Investment Advisers grew its stake in TechnipFMC plc (NYSE:FTI) by 35.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,090 shares of the oil and gas company’s stock after buying an additional 9,762 shares during the quarter. Cetera Investment Advisers’ holdings in TechnipFMC were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Diversify Advisory Services LLC grew its position in shares of TechnipFMC by 5.1% during the first quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company’s stock worth $238,000 after purchasing an additional 362 shares in the last quarter. Acuitas Investments LLC grew its holdings in TechnipFMC by 13.4% during the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 400 shares in the last quarter. KBC Group NV grew its holdings in TechnipFMC by 2.4% during the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company’s stock valued at $575,000 after buying an additional 429 shares in the last quarter. GAMMA Investing LLC grew its holdings in TechnipFMC by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 614 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its holdings in TechnipFMC by 7.7% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company’s stock valued at $293,000 after buying an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

FTI has been the subject of several research analyst reports. Sanford C. Bernstein cut TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target for the company. in a report on Thursday, May 22nd. Royal Bank Of Canada raised their price target on TechnipFMC from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, July 25th. BTIG Research cut TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Citigroup reaffirmed a “buy” rating and issued a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Finally, Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.92.

TechnipFMC Price Performance

NYSE:FTI opened at $34.98 on Tuesday. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $38.05. The stock has a 50 day moving average of $34.55 and a two-hundred day moving average of $30.83. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm has a market cap of $14.38 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.15 and a beta of 1.04.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business earned $0.43 EPS. TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC’s payout ratio is 9.43%.

About TechnipFMC

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.