Pzena Investment Management LLC Increases Stake in TechnipFMC PLC (NYSE:FTI)

Pzena Investment Management LLC increased its position in TechnipFMC PLC (NYSE:FTI) by 77.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,828,033 shares of the oil and gas company’s stock after acquiring an additional 3,850,758 shares during the quarter. Pzena Investment Management LLC owned about 1.97% of TechnipFMC worth $228,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in TechnipFMC by 7.2% in 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 acquiring an additional 333,774 shares in the last quarter. State of Alaska Department of Revenue increased its position in TechnipFMC by 2.9% in the 1st quarter. State of Alaska Department of Revenue now owns 35,334 shares of the oil and gas company’s stock valued at $831,000 after acquiring an additional 1,000 shares in the last quarter. Retirement Systems of Alabama increased its position in TechnipFMC by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 198,120 shares of the oil and gas company’s stock valued at $4,660,000 after acquiring an additional 1,100 shares in the last quarter. Sciencast Management LP acquired a new stake in TechnipFMC in the 1st quarter valued at about $214,000. Finally, Nisa Investment Advisors LLC increased its position in TechnipFMC by 6.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,400 shares of the oil and gas company’s stock valued at $198,000 after acquiring an additional 514 shares in the last quarter. 72.65% of the stock is owned by institutional investors.

TechnipFMC stock traded up $0.67 during midday trading on Friday, hitting $23.69. 1,682,996 shares of the stock were exchanged, compared to its average volume of 3,574,223. The company has a fifty day simple moving average of $25.56 and a two-hundred day simple moving average of $23.80. TechnipFMC PLC has a 52 week low of $18.20 and a 52 week high of $32.91. The stock has a market capitalization of $10.33 billion, a PE ratio of 28.89, a P/E/G ratio of 3.16 and a beta of 1.47. The company has a quick ratio of 1.04, a current ratio of 1.18 and a debt-to-equity ratio of 0.43.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data 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. TechnipFMC had a negative net margin of 15.64% and a positive return on equity of 2.76%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the firm earned $0.28 EPS. TechnipFMC’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that TechnipFMC PLC will post 1.29 EPS for the current fiscal 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 paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, August 19th.

Several equities research analysts have weighed in on FTI shares. ValuEngine upgraded shares of TechnipFMC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. BMO Capital Markets set a $32.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup raised their price objective on shares of TechnipFMC from $27.40 to $29.50 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Cowen reaffirmed a “buy” rating and issued a $28.00 target price on shares of TechnipFMC in a research note on Thursday, July 11th. Finally, TheStreet raised shares of TechnipFMC from a “c+” rating to a “b-” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $31.28.

About TechnipFMC

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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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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