Los Angeles Capital Management LLC Purchases 330,220 Shares of TechnipFMC plc (NYSE:FTI)

Los Angeles Capital Management LLC lifted its position in TechnipFMC plc (NYSE:FTI) by 165.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,071 shares of the oil and gas company’s stock after acquiring an additional 330,220 shares during the quarter. Los Angeles Capital Management LLC’s holdings in TechnipFMC were worth $13,310,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of TechnipFMC by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 39,914,980 shares of the oil and gas company’s stock worth $803,888,000 after acquiring an additional 126,247 shares during the last quarter. American Century Companies Inc. increased its stake in TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock worth $108,048,000 after buying an additional 3,283,972 shares during the period. Goldman Sachs Group Inc. increased its stake in TechnipFMC by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock worth $70,864,000 after buying an additional 85,451 shares during the period. Balyasny Asset Management L.P. increased its position in TechnipFMC by 868.1% during the 4th 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 purchasing an additional 2,808,618 shares during the period. Finally, Norges Bank purchased a new position in TechnipFMC during the 4th quarter valued at about $61,570,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $24.64 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.87. The firm has a fifty day moving average price of $25.71 and a 200 day moving average price of $22.78. TechnipFMC plc has a 1 year low of $14.60 and a 1 year high of $27.30. The stock has a market cap of $10.62 billion, a P/E ratio of 52.43 and a beta of 1.58.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm 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%. TechnipFMC’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts anticipate that TechnipFMC plc will post 1.18 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Monday, May 20th. TechnipFMC’s dividend payout ratio is presently 42.55%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the company a “positive” rating in a report on Friday, April 26th. Bank of America boosted their target price on shares of TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a research report on Monday, April 15th. HSBC downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 target price on the stock. in a research report on Friday, February 23rd. TD Cowen boosted their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Barclays boosted their target price on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average target price of $27.21.

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.