1832 Asset Management L.P. Has $1.37 Million Holdings in TechnipFMC plc (NYSE:FTI)

1832 Asset Management L.P. grew its position in TechnipFMC plc (NYSE:FTI) by 70.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,735 shares of the oil and gas company’s stock after purchasing an additional 22,645 shares during the quarter. 1832 Asset Management L.P.’s holdings in TechnipFMC were worth $1,374,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FTI. Whittier Trust Co. bought a new position in TechnipFMC during the 1st quarter worth $29,000. Johnson Financial Group Inc. acquired a new stake in TechnipFMC in the 4th quarter worth about $33,000. Quarry LP grew its position in shares of TechnipFMC by 76.6% during the 4th 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 in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC in the fourth quarter valued at approximately $45,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of TechnipFMC by 367.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas company’s stock worth $89,000 after purchasing an additional 2,790 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FTI. TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Bank of America lifted 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. Susquehanna upped their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of TechnipFMC in a research note on Friday, April 26th. Finally, Piper Sandler boosted their target price on TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.62.

TechnipFMC Stock Performance

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

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

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.69%. TechnipFMC’s payout ratio is presently 42.55%.

Insiders Place Their Bets

In other news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

TechnipFMC Company 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.