Hillsdale Investment Management Inc. Has $5.39 Million Stock Position in TechnipFMC plc $FTI

Hillsdale Investment Management Inc. grew its position in TechnipFMC plc (NYSE:FTIFree Report) by 367.8% in the third quarter, Holdings Channel.com reports. The fund owned 136,600 shares of the oil and gas company’s stock after buying an additional 107,400 shares during the period. Hillsdale Investment Management Inc.’s holdings in TechnipFMC were worth $5,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its position in TechnipFMC by 5,475.0% in the third quarter. Blue Trust Inc. now owns 669 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 657 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of 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 valued at $35,000 after buying an additional 340 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of TechnipFMC in the 2nd quarter valued at $44,000. McIlrath & Eck LLC lifted 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 acquiring an additional 1,024 shares during the period. Finally, Root Financial Partners LLC bought a new position in shares of TechnipFMC during the 3rd quarter worth about $51,000. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FTI shares. TD Cowen reissued a “buy” rating on shares of TechnipFMC in a research note on Friday. Zacks Research raised TechnipFMC from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. UBS Group set a $70.00 price objective on TechnipFMC in a research note on Friday. Jefferies Financial Group raised their target price on TechnipFMC from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and boosted their price target for the company from $49.00 to $62.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.08.

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TechnipFMC Trading Up 2.6%

FTI opened at $63.39 on Friday. The firm has a 50-day moving average price of $52.38 and a two-hundred day moving average price of $44.30. TechnipFMC plc has a 1-year low of $22.11 and a 1-year high of $63.51. The company has a current ratio of 1.13, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $25.64 billion, a PE ratio of 27.44, a PEG ratio of 1.23 and a beta of 0.69.

TechnipFMC (NYSE:FTIGet Free Report) last posted its quarterly earnings results on Thursday, February 19th. The oil and gas company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.19. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.54 billion. TechnipFMC had a net margin of 9.70% and a return on equity of 31.14%. TechnipFMC’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

TechnipFMC Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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