Swiss National Bank Decreases Position in TechnipFMC PLC (NYSE:FTI)
Swiss National Bank lessened its holdings in shares of TechnipFMC PLC (NYSE:FTI) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,399,604 shares of the oil and gas company’s stock after selling 36,400 shares during the period. Swiss National Bank’s holdings in TechnipFMC were worth $36,306,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of FTI. Pzena Investment Management LLC lifted its holdings in shares of TechnipFMC by 141.3% during the 1st quarter. Pzena Investment Management LLC now owns 4,977,275 shares of the oil and gas company’s stock valued at $117,066,000 after purchasing an additional 2,914,800 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of TechnipFMC by 621.1% during the 1st quarter. State of Tennessee Treasury Department now owns 795,049 shares of the oil and gas company’s stock valued at $18,700,000 after purchasing an additional 684,790 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of TechnipFMC by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,967,665 shares of the oil and gas company’s stock valued at $97,077,000 after purchasing an additional 333,774 shares during the last quarter. Blackcrane Capital LLC acquired a new position in shares of TechnipFMC in the 1st quarter valued at $6,090,000. Finally, Janus Henderson Group PLC increased its position in shares of TechnipFMC by 48.1% in the 2nd quarter. Janus Henderson Group PLC now owns 722,949 shares of the oil and gas company’s stock valued at $18,700,000 after acquiring an additional 234,807 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.
Several research firms recently issued reports on FTI. BMO Capital Markets set a $32.00 target price on TechnipFMC and gave the company a “buy” rating in a research report on Friday, July 26th. ValuEngine raised TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $29.00 target price on shares of TechnipFMC in a research report on Monday, April 29th. Citigroup upped their target price on TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, TheStreet downgraded TechnipFMC from a “b-” rating to a “c” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.84.
TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.27 billion. TechnipFMC had a positive return on equity of 2.76% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. On average, equities analysts anticipate that TechnipFMC PLC will post 1.29 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.15%. The ex-dividend date is Monday, August 19th.
TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas.
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