Victory Capital Management Inc. Has $19.94 Million Holdings in TechnipFMC plc $FTI

Victory Capital Management Inc. increased its position in TechnipFMC plc (NYSE:FTI) by 22.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 505,442 shares of the oil and gas company’s stock after acquiring an additional 94,303 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of TechnipFMC worth $19,940,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners grew its position in shares of TechnipFMC by 267.5% in the second quarter. Boston Partners now owns 9,669,433 shares of the oil and gas company’s stock valued at $333,041,000 after purchasing an additional 7,038,640 shares during the last quarter. Norges Bank bought a new stake in TechnipFMC during the 2nd quarter valued at approximately $151,413,000. Pacer Advisors Inc. boosted its stake in TechnipFMC by 91.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,837,314 shares of the oil and gas company’s stock valued at $151,382,000 after purchasing an additional 1,833,601 shares during the period. Bank of New York Mellon Corp grew its holdings in TechnipFMC by 80.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,172,213 shares of the oil and gas company’s stock valued at $125,144,000 after buying an additional 1,415,621 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in TechnipFMC by 61.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,399,955 shares of the oil and gas company’s stock worth $117,094,000 after buying an additional 1,296,358 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

FTI has been the subject of a number of research analyst reports. Zacks Research upgraded TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. The Goldman Sachs Group raised their price objective on shares of TechnipFMC from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Piper Sandler boosted their target price on shares of TechnipFMC from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Royal Bank Of Canada upped their target price on shares of TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and increased their price target for the company from $49.00 to $62.00 in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.47.

TechnipFMC Price Performance

Shares of FTI stock opened at $63.33 on Tuesday. The company has a market capitalization of $25.34 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.16 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $68.29. The stock has a 50 day moving average of $56.93 and a two-hundred day moving average of $46.71.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, February 19th. The oil and gas company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.19. TechnipFMC had a return on equity of 31.14% and a net margin of 9.70%.The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the company posted $0.54 earnings per share. TechnipFMC’s revenue was up 6.3% on a year-over-year basis. As a group, equities analysts expect that TechnipFMC plc will post 1.63 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Tuesday, March 17th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is currently 8.66%.

Insider Activity at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 6,350 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total transaction of $415,290.00. Following the completion of the transaction, the director directly owned 97,860 shares of the company’s stock, valued at approximately $6,400,044. This trade represents a 6.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.