Seven Eight Capital LP Acquires 247,744 Shares of TechnipFMC plc (NYSE:FTI)

Seven Eight Capital LP boosted its position in shares of TechnipFMC plc (NYSE:FTI) by 412.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,805 shares of the oil and gas company’s stock after acquiring an additional 247,744 shares during the period. TechnipFMC makes up approximately 0.7% of Seven Eight Capital LP’s holdings, making the stock its 26th largest holding. Seven Eight Capital LP owned approximately 0.07% of TechnipFMC worth $6,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTI. Vanguard Group Inc. increased its stake in TechnipFMC by 320.3% during the third quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock valued at $809,303,000 after acquiring an additional 30,323,011 shares during the period. Invesco Ltd. boosted its holdings in TechnipFMC by 75.7% during the third quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock valued at $263,809,000 after purchasing an additional 5,587,050 shares in the last quarter. American Century Companies Inc. boosted its holdings in TechnipFMC by 161.9% during the third quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares in the last quarter. Norges Bank acquired a new stake in TechnipFMC during the fourth quarter valued at approximately $61,570,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in TechnipFMC during the fourth quarter valued at approximately $37,976,000. 96.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTI has been the topic of a number of recent research reports. TD Cowen lifted their price objective on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, April 26th. HSBC downgraded TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective on the stock. in a report on Friday, February 23rd. Bank of America lifted their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. StockNews.com raised TechnipFMC from a “hold” rating to a “buy” rating in a report on Sunday, April 28th. Finally, Barclays boosted their target price on TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target of $27.21.

TechnipFMC Trading Down 0.4 %

FTI stock traded down $0.10 during trading on Friday, hitting $24.27. The company had a trading volume of 2,656,865 shares, compared to its average volume of 3,086,987. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $25.96 and a 200-day moving average price of $22.57. TechnipFMC plc has a 12 month low of $14.23 and a 12 month high of $27.30. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 51.64 and a beta of 1.58.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, analysts predict that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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.