Aware Super Pty Ltd as trustee of Aware Super Purchases New Position in TechnipFMC plc $FTI

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 255,783 shares of the oil and gas company’s stock, valued at approximately $17,682,000.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Evercore reiterated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a report on Friday, May 1st. Weiss Ratings raised shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Barclays increased their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Price Performance

FTI opened at $72.01 on Friday. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78. The firm has a 50-day moving average of $69.22 and a 200 day moving average of $65.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm has a market cap of $28.71 billion, a P/E ratio of 27.49, a PEG ratio of 1.54 and a beta of 0.70.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, research analysts expect that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, May 19th. TechnipFMC’s payout ratio is 7.63%.

TechnipFMC 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.