Healthcare of Ontario Pension Plan Trust Fund Takes $6.50 Million Position in TechnipFMC plc $FTI

Healthcare of Ontario Pension Plan Trust Fund bought a new position in TechnipFMC plc (NYSE:FTI) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 94,000 shares of the oil and gas company’s stock, valued at approximately $6,498,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Norges Bank bought a new position in shares of TechnipFMC during the fourth quarter valued at $205,468,000. Invesco Ltd. lifted its holdings in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after purchasing an additional 4,437,960 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of TechnipFMC by 26.7% during 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 buying an additional 3,549,839 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in TechnipFMC by 46.2% in the 3rd quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company’s stock worth $141,283,000 after buying an additional 1,132,216 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Price Performance

Shares of NYSE:FTI opened at $71.77 on Thursday. The company has a market capitalization of $28.61 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.52 and a beta of 0.70. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $77.92. The firm’s 50 day simple moving average is $69.52 and its two-hundred day simple moving average is $66.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 earnings per share. Research analysts expect that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is currently 7.63%.

Wall Street Analysts Forecast Growth

FTI has been the subject of a number of recent analyst reports. Wall Street Zen raised TechnipFMC from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings raised shares of TechnipFMC from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 14th. Piper Sandler lifted their price target on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Citigroup boosted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

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.