TechnipFMC PLC (NYSE:FTI) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of TechnipFMC PLC (NYSE:FTI) by 242.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,800,160 shares of the oil and gas company’s stock after purchasing an additional 1,981,616 shares during the period. Jennison Associates LLC owned approximately 0.60% of TechnipFMC worth $88,877,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its holdings in TechnipFMC by 0.4% during the first quarter. First Eagle Investment Management LLC now owns 34,910,980 shares of the oil and gas company’s stock worth $1,028,128,000 after acquiring an additional 134,289 shares during the period. BlackRock Inc. boosted its position in shares of TechnipFMC by 2.1% in the 1st quarter. BlackRock Inc. now owns 22,858,163 shares of the oil and gas company’s stock valued at $673,174,000 after purchasing an additional 463,654 shares during the period. Platinum Investment Management Ltd. boosted its position in shares of TechnipFMC by 6.5% in the 1st quarter. Platinum Investment Management Ltd. now owns 8,825,500 shares of the oil and gas company’s stock valued at $259,910,000 after purchasing an additional 541,000 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in TechnipFMC by 105.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,261,787 shares of the oil and gas company’s stock worth $125,510,000 after acquiring an additional 2,189,893 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in TechnipFMC by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,376,904 shares of the oil and gas company’s stock worth $99,450,000 after acquiring an additional 10,840 shares during the period. Institutional investors and hedge funds own 64.62% of the company’s stock.

NYSE FTI traded down $0.23 on Friday, reaching $30.63. The company had a trading volume of 2,169,600 shares, compared to its average volume of 3,453,341. TechnipFMC PLC has a 52 week low of $24.53 and a 52 week high of $35.00. The company has a market capitalization of $14.28 billion, a PE ratio of 23.77, a P/E/G ratio of 2.29 and a beta of 0.87. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.11). The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.20 billion. TechnipFMC had a return on equity of 4.02% and a net margin of 1.21%. The firm’s revenue was down 23.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. sell-side analysts predict that TechnipFMC PLC will post 1.39 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 21st will be given a dividend of $0.13 per share. The ex-dividend date is Monday, August 20th. This represents a $0.52 annualized dividend and a dividend yield of 1.70%. TechnipFMC’s dividend payout ratio is currently 20.16%.

Several equities research analysts have recently issued reports on the company. Barclays lifted their price target on TechnipFMC from $32.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. BMO Capital Markets raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Wells Fargo & Co lifted their price target on TechnipFMC from $37.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, May 24th. Jefferies Financial Group raised TechnipFMC from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Thursday, August 16th. Finally, Citigroup lowered TechnipFMC from a “buy” rating to a “neutral” rating in a report on Monday, July 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. TechnipFMC has a consensus rating of “Buy” and an average target price of $35.28.

In related news, Director John C. G. Oleary purchased 2,000 shares of TechnipFMC stock in a transaction that occurred on Friday, June 15th. The stock was purchased at an average cost of $27.53 per share, with a total value of $55,060.00. Following the completion of the transaction, the director now owns 12,455 shares of the company’s stock, valued at approximately $342,886.15. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is owned by corporate insiders.

TechnipFMC Profile

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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