Kopion Asset Management LLC lifted its position in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 749,581 shares of the oil and gas company’s stock after purchasing an additional 14,838 shares during the period. TechnipFMC comprises 10.5% of Kopion Asset Management LLC’s investment portfolio, making the stock its largest holding. Kopion Asset Management LLC owned approximately 0.17% of TechnipFMC worth $12,458,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC raised its position in TechnipFMC by 5.3% during the 2nd quarter. AE Wealth Management LLC now owns 265,589 shares of the oil and gas company’s stock worth $4,414,000 after purchasing an additional 13,407 shares during the last quarter. SG Americas Securities LLC boosted its holdings in TechnipFMC by 276.7% in the second quarter. SG Americas Securities LLC now owns 109,372 shares of the oil and gas company’s stock valued at $1,818,000 after acquiring an additional 80,339 shares during the last quarter. Level Four Advisory Services LLC acquired a new stake in TechnipFMC during the 1st quarter valued at approximately $710,000. Macquarie Group Ltd. bought a new position in TechnipFMC during the 1st quarter worth approximately $2,760,000. Finally, Toroso Investments LLC raised its holdings in TechnipFMC by 81.9% during the 1st quarter. Toroso Investments LLC now owns 26,030 shares of the oil and gas company’s stock worth $355,000 after purchasing an additional 11,720 shares during the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on FTI. TheStreet upgraded shares of TechnipFMC from a “c+” rating to a “b-” rating in a research report on Friday, July 7th. Citigroup upped their target price on TechnipFMC from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. StockNews.com assumed coverage on shares of TechnipFMC in a research report on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of TechnipFMC from $17.00 to $22.00 in a research note on Tuesday, July 11th. Finally, Capital One Financial reiterated an “overweight” rating and issued a $22.00 target price on shares of TechnipFMC in a report on Friday, July 14th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $20.56.
TechnipFMC Stock Performance
Shares of FTI stock traded up $0.07 during trading on Friday, reaching $20.86. 22,736,887 shares of the company’s stock traded hands, compared to its average volume of 5,941,076. The firm’s 50-day moving average is $18.68 and its 200 day moving average is $15.74. The company has a market capitalization of $9.14 billion, a P/E ratio of -69.53 and a beta of 1.82. TechnipFMC plc has a 1 year low of $8.02 and a 1 year high of $21.67. The company has a current ratio of 1.18, a quick ratio of 0.92 and a debt-to-equity ratio of 0.34.
TechnipFMC (NYSE:FTI – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.06). The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. TechnipFMC had a positive return on equity of 1.15% and a negative net margin of 1.89%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Equities research analysts expect that TechnipFMC plc will post 0.44 EPS for the current year.
TechnipFMC Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 22nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.20 annualized dividend and a dividend yield of 0.96%. TechnipFMC’s payout ratio is currently -66.66%.
TechnipFMC declared that its board has authorized a stock buyback program 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 repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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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