Robotti Robert Has $7.81 Million Stake in TechnipFMC plc (NYSE:FTI)

Robotti Robert trimmed its holdings in shares of TechnipFMC plc (NYSE:FTIFree Report) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 572,011 shares of the oil and gas company’s stock after selling 8,108 shares during the period. TechnipFMC accounts for approximately 1.4% of Robotti Robert’s holdings, making the stock its 12th largest holding. Robotti Robert owned approximately 0.13% of TechnipFMC worth $7,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in shares of TechnipFMC by 68,732.1% in the 4th quarter. Alliancebernstein L.P. now owns 7,053,918 shares of the oil and gas company’s stock valued at $85,987,000 after buying an additional 7,043,670 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of TechnipFMC by 11.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,933,447 shares of the oil and gas company’s stock valued at $718,398,000 after buying an additional 5,888,998 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TechnipFMC by 126.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,665,387 shares of the oil and gas company’s stock valued at $36,157,000 after buying an additional 2,608,136 shares during the period. Renaissance Technologies LLC increased its stake in shares of TechnipFMC by 144.0% in the 1st quarter. Renaissance Technologies LLC now owns 4,406,900 shares of the oil and gas company’s stock valued at $34,153,000 after buying an additional 2,600,600 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of TechnipFMC by 263.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 3,515,125 shares of the oil and gas company’s stock valued at $42,849,000 after buying an additional 2,548,386 shares during the period. 98.79% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Trading Up 1.4 %

FTI stock traded up $0.29 during midday trading on Friday, hitting $20.86. 1,072,316 shares of the company’s stock were exchanged, compared to its average volume of 5,716,634. The stock’s fifty day moving average price is $18.17 and its 200-day moving average price is $15.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 1.18. The company has a market cap of $9.14 billion, a PE ratio of -69.93 and a beta of 1.82. TechnipFMC plc has a one year low of $8.02 and a one year high of $20.94.

TechnipFMC (NYSE:FTIGet Free Report) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.06). TechnipFMC had a negative net margin of 1.89% and a positive return on equity of 1.15%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts predict that TechnipFMC plc will post 0.46 earnings per share for the current fiscal year.

TechnipFMC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 22nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Monday, August 21st. TechnipFMC’s dividend payout ratio is -66.66%.

TechnipFMC announced that its board has initiated a share repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FTI shares. Capital One Financial reissued an “overweight” rating and issued a $22.00 target price on shares of TechnipFMC in a research note on Friday, July 14th. StockNews.com initiated coverage on TechnipFMC in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. TheStreet upgraded TechnipFMC from a “c+” rating to a “b-” rating in a research report on Friday, July 7th. JPMorgan Chase & Co. raised their price target on TechnipFMC from $17.00 to $22.00 in a research report on Tuesday, July 11th. Finally, Barclays raised their price target on TechnipFMC from $20.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Two 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.56.

Get Our Latest Research Report on TechnipFMC

About TechnipFMC

(Free Report)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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