TechnipFMC plc (NYSE:FTI) Stake Increased by FourThought Financial LLC

FourThought Financial LLC increased its holdings in shares of TechnipFMC plc (NYSE:FTI – Get Rating) by 18.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,533 shares of the oil and gas company’s stock after buying an additional 4,205 shares during the quarter. FourThought Financial LLC’s holdings in TechnipFMC were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Raymond James & Associates lifted its position in TechnipFMC by 18.6% in the 1st quarter. Raymond James & Associates now owns 266,995 shares of the oil and gas company’s stock worth $2,069,000 after buying an additional 41,955 shares in the last quarter. Bank of Montreal Can increased its stake in shares of TechnipFMC by 334.1% in the first quarter. Bank of Montreal Can now owns 49,994 shares of the oil and gas company’s stock worth $388,000 after acquiring an additional 38,477 shares during the last quarter. BlackRock Inc. raised its holdings in shares of TechnipFMC by 11.6% during the first quarter. BlackRock Inc. now owns 9,915,455 shares of the oil and gas company’s stock worth $76,845,000 after acquiring an additional 1,029,472 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in TechnipFMC during the first quarter valued at $172,000. Finally, Sei Investments Co. grew its stake in TechnipFMC by 93.5% in the first quarter. Sei Investments Co. now owns 258,480 shares of the oil and gas company’s stock valued at $1,989,000 after purchasing an additional 124,906 shares in the last quarter. 94.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTI has been the subject of several research reports. Citigroup lifted their price target on TechnipFMC from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 28th. Benchmark initiated coverage on shares of TechnipFMC in a research note on Thursday, January 19th. They issued a “buy” rating and a $15.00 target price for the company. StockNews.com assumed coverage on shares of TechnipFMC in a research note on Thursday. They set a “hold” rating on the stock. Barclays lifted their price objective on shares of TechnipFMC from $14.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, February 27th. Finally, BTIG Research upped their price objective on shares of TechnipFMC from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 24th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $15.45.

TechnipFMC Price Performance

NYSE FTI opened at $12.35 on Friday. The stock has a 50-day simple moving average of $13.76 and a 200 day simple moving average of $11.70. TechnipFMC plc has a twelve month low of $5.47 and a twelve month high of $16.03. The stock has a market capitalization of $5.46 billion, a PE ratio of -53.70 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 1.20.

TechnipFMC (NYSE:FTI – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. TechnipFMC had a negative net margin of 1.60% and a negative return on equity of 0.38%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) earnings per share. Research analysts anticipate that TechnipFMC plc will post 0.51 EPS for the current year.

Insider Activity

In other TechnipFMC news, Director Carvalho Filho Eleazar De sold 22,208 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $15.10, for a total value of $335,340.80. Following the completion of the transaction, the director now owns 107,092 shares of the company’s stock, valued at approximately $1,617,089.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

About TechnipFMC

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.