KBC Group NV Purchases 29,989 Shares of TechnipFMC plc $FTI

KBC Group NV boosted its position in TechnipFMC plc (NYSE:FTI) by 246.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,155 shares of the oil and gas company’s stock after acquiring an additional 29,989 shares during the period. KBC Group NV’s holdings in TechnipFMC were worth $2,914,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FTI. Precision Wealth Strategies LLC bought a new stake in shares of TechnipFMC during the first quarter valued at approximately $1,114,000. ANB Bank lifted its holdings in shares of TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 161 shares in the last quarter. Dorsey Wright & Associates lifted its holdings in shares of TechnipFMC by 127.5% in the 1st quarter. Dorsey Wright & Associates now owns 279,064 shares of the oil and gas company’s stock worth $19,292,000 after purchasing an additional 156,386 shares in the last quarter. California Public Employees Retirement System grew its position in TechnipFMC by 13.1% in the 1st quarter. California Public Employees Retirement System now owns 1,003,504 shares of the oil and gas company’s stock valued at $69,372,000 after purchasing an additional 116,062 shares during the period. Finally, Kera Capital Partners Inc. increased its stake in TechnipFMC by 6.5% during the 1st quarter. Kera Capital Partners Inc. now owns 11,172 shares of the oil and gas company’s stock valued at $772,000 after purchasing an additional 681 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FTI. Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Piper Sandler upped their target price on TechnipFMC from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Evercore reiterated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Up 0.9%

FTI stock opened at $76.70 on Friday. The stock has a 50-day simple moving average of $69.53 and a two-hundred day simple moving average of $66.19. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $77.92. The firm has a market capitalization of $30.58 billion, a PE ratio of 29.28, a PEG ratio of 1.60 and a beta of 0.70. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results 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. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts predict that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were given 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 was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

About TechnipFMC

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.