DNB Asset Management AS Increases Stake in TechnipFMC plc $FTI

DNB Asset Management AS raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 167.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,794 shares of the oil and gas company’s stock after buying an additional 28,036 shares during the quarter. DNB Asset Management AS’s holdings in TechnipFMC were worth $1,767,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FTI. Blue Trust Inc. boosted its position in TechnipFMC by 5,475.0% during the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 657 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. McIlrath & Eck LLC boosted its holdings in shares of TechnipFMC by 476.3% during the 3rd quarter. McIlrath & Eck LLC now owns 1,239 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,024 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of TechnipFMC during the 3rd quarter worth approximately $51,000. Finally, Ossiam grew its position in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 6,350 shares of TechnipFMC stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $65.40, for a total value of $415,290.00. Following the completion of the sale, the director owned 97,860 shares in the company, valued at approximately $6,400,044. This trade represents a 6.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

TechnipFMC Stock Performance

NYSE FTI opened at $66.21 on Wednesday. The stock has a fifty day simple moving average of $55.38 and a 200-day simple moving average of $45.89. The company has a current ratio of 1.13, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. The stock has a market cap of $26.49 billion, a PE ratio of 28.66, a P/E/G ratio of 1.29 and a beta of 0.70. TechnipFMC plc has a twelve month low of $22.11 and a twelve month high of $68.29.

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

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Tuesday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend 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 (DPR) is presently 8.66%.

Analyst Ratings Changes

A number of brokerages recently commented on FTI. BMO Capital Markets lifted their price objective on TechnipFMC from $52.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, February 23rd. UBS Group set a $70.00 target price on TechnipFMC in a research note on Friday, February 20th. Susquehanna lifted their price target on TechnipFMC from $56.00 to $71.00 and gave the stock a “positive” rating in a report on Friday, February 20th. Royal Bank Of Canada boosted their price target on shares of TechnipFMC from $47.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TechnipFMC in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.93.

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.