Price T Rowe Associates Inc. MD Has $1.02 Billion Stock Position in TechnipFMC plc (NYSE:FTI)

Price T Rowe Associates Inc. MD raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,594,774 shares of the oil and gas company’s stock after purchasing an additional 3,259,348 shares during the period. Price T Rowe Associates Inc. MD owned 9.42% of TechnipFMC worth $1,019,337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FTI. Inceptionr LLC grew its holdings in TechnipFMC by 2.2% during the 4th quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after acquiring an additional 540 shares during the period. Quarry LP grew its stake in shares of 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 purchasing an additional 768 shares during the period. Janney Capital Management LLC increased its holdings in TechnipFMC by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 27,688 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 839 shares during the last quarter. Whittier Trust Co. acquired a new position in TechnipFMC in the first quarter valued at about $29,000. Finally, Wallace Advisory Group LLC lifted its stake in TechnipFMC by 8.1% in the first quarter. Wallace Advisory Group LLC now owns 18,436 shares of the oil and gas company’s stock valued at $463,000 after buying an additional 1,387 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FTI. Bank of America upped their price target on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research note on Monday, April 15th. Citigroup upped their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Susquehanna lifted their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Finally, Piper Sandler raised their price objective on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.62.

TechnipFMC Stock Up 1.7 %

FTI stock traded up $0.49 during midday trading on Friday, hitting $28.87. The company’s stock had a trading volume of 4,889,617 shares, compared to its average volume of 3,669,934. The company’s fifty day moving average price is $26.03 and its 200 day moving average price is $24.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.87. TechnipFMC plc has a twelve month low of $17.36 and a twelve month high of $29.24. The stock has a market capitalization of $12.44 billion, a P/E ratio of 61.43 and a beta of 1.52.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, equities research analysts predict that TechnipFMC plc will post 1.2 EPS for the current year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is owned by company insiders.

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.