Primecap Management Co. CA Boosts Position in TechnipFMC plc (NYSE:FTI)

Primecap Management Co. CA raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,891,100 shares of the oil and gas company’s stock after buying an additional 9,400 shares during the period. Primecap Management Co. CA owned about 0.44% of TechnipFMC worth $49,452,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Brown Advisory Inc. acquired a new position in shares of TechnipFMC during the 4th quarter valued at $830,000. Norden Group LLC raised its position in TechnipFMC by 2,899.1% in the first quarter. Norden Group LLC now owns 378,900 shares of the oil and gas company’s stock valued at $9,514,000 after purchasing an additional 366,266 shares during the period. Vanguard Group Inc. boosted its position in shares of TechnipFMC by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after buying an additional 126,247 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of TechnipFMC in the first quarter valued at about $965,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of TechnipFMC by 868.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock valued at $63,082,000 after buying an additional 2,808,618 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

NYSE:FTI opened at $25.49 on Wednesday. The company has a fifty day moving average price of $26.56 and a 200 day moving average price of $25.76. The stock has a market cap of $10.98 billion, a P/E ratio of 54.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the prior year, the firm posted $0.10 EPS. TechnipFMC’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts anticipate that TechnipFMC plc will post 1.34 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is presently 42.55%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FTI. Susquehanna upped their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a report on Friday, July 26th. StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup lifted their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.38.

Insider Activity

In other news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.06% of the company’s stock.

TechnipFMC Company 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.