Marietta Investment Partners LLC Acquires 21,606 Shares of TechnipFMC plc $FTI

Marietta Investment Partners LLC raised its stake in shares of TechnipFMC plc (NYSE:FTI) by 35.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,085 shares of the oil and gas company’s stock after purchasing an additional 21,606 shares during the period. TechnipFMC accounts for approximately 1.2% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 26th biggest position. Marietta Investment Partners LLC’s holdings in TechnipFMC were worth $5,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the period. State Street Corp increased its position in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the period. Invesco Ltd. raised its holdings in TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Boston Partners raised its holdings in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of TechnipFMC by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock worth $337,714,000 after purchasing an additional 193,244 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $66.72 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The stock’s 50 day moving average is $69.83 and its 200-day moving average is $63.41. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.43 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $0.33 EPS. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts forecast that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s payout ratio is presently 7.63%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Susquehanna increased their price objective on shares of TechnipFMC from $83.00 to $90.00 and gave the stock a “positive” rating in a research report on Friday, May 1st. Piper Sandler boosted their target price on shares of TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

TechnipFMC Company 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.