TechnipFMC plc (NYSE:FTI) Stock Position Lifted by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lifted its position in TechnipFMC plc (NYSE:FTI) by 56.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,954,356 shares of the oil and gas company’s stock after acquiring an additional 1,068,788 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.68% of TechnipFMC worth $74,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in TechnipFMC during the 4th quarter valued at approximately $33,000. Quarry LP grew its position in shares of TechnipFMC by 76.6% during the fourth quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 768 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of TechnipFMC in the 4th quarter worth about $45,000. KBC Group NV acquired a new position in TechnipFMC during the 4th quarter valued at about $163,000. Finally, International Assets Investment Management LLC bought a new position in TechnipFMC in the 4th quarter worth about $203,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Up 1.6 %

Shares of FTI stock traded up $0.42 during trading on Tuesday, hitting $26.68. 351,161 shares of the company were exchanged, compared to its average volume of 4,214,048. The business’s 50-day simple moving average is $25.69 and its 200 day simple moving average is $23.17. TechnipFMC plc has a twelve month low of $16.04 and a twelve month high of $27.30. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 55.86 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.96 billion. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, analysts forecast that TechnipFMC plc will post 1.18 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Monday, May 20th. TechnipFMC’s payout ratio is currently 42.55%.

Insider Transactions at TechnipFMC

In related news, CAO David Light sold 5,928 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now owns 11,534 shares of the company’s stock, valued at approximately $297,692.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FTI shares. Bank of America increased their price objective on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. TD Cowen boosted their price target 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. Barclays increased their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a research note on Friday, April 26th. Finally, Piper Sandler upped their price objective on TechnipFMC from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.21.

About TechnipFMC

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.