Edgestream Partners L.P. Buys New Holdings in TechnipFMC plc (NYSE:FTI)

Edgestream Partners L.P. acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,434 shares of the oil and gas company’s stock, valued at approximately $965,000.

Several other hedge funds have also recently bought and sold shares of FTI. Whittier Trust Co. acquired a new position in TechnipFMC during the first quarter worth $29,000. Johnson Financial Group Inc. acquired a new position in TechnipFMC during the fourth quarter worth $33,000. Quarry LP raised its stake in TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 768 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in TechnipFMC during the fourth quarter worth $45,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in TechnipFMC by 367.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock worth $89,000 after acquiring an additional 2,790 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TechnipFMC

In related news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction that occurred 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 can be accessed through this link. 1.06% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on FTI shares. Citigroup increased their price objective on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Susquehanna increased their target price on TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Piper Sandler increased their target price on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. StockNews.com upgraded TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Finally, Barclays increased their target price on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.55.

TechnipFMC Trading Up 1.2 %

TechnipFMC stock traded up $0.34 during mid-day trading on Tuesday, hitting $28.35. The stock had a trading volume of 923,563 shares, compared to its average volume of 4,122,976. The stock has a 50-day simple moving average of $25.90 and a two-hundred day simple moving average of $23.89. The stock has a market capitalization of $12.22 billion, a PE ratio of 59.60 and a beta of 1.52. TechnipFMC plc has a 12 month low of $17.20 and a 12 month high of $28.54. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.31.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a return on equity of 9.57% and a net margin of 2.61%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.2 EPS for the current year.

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.