Norden Group LLC Grows Stock Position in TechnipFMC plc (NYSE:FTI)

Norden Group LLC increased its holdings in TechnipFMC plc (NYSE:FTI) by 2,899.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 378,900 shares of the oil and gas company’s stock after buying an additional 366,266 shares during the quarter. Norden Group LLC owned 0.09% of TechnipFMC worth $9,514,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. purchased a new position in shares of TechnipFMC during the 4th quarter worth $33,000. Quarry LP raised its holdings in TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in TechnipFMC during the fourth quarter valued at $45,000. KBC Group NV bought a new stake in TechnipFMC during the fourth quarter valued at about $163,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC in the fourth quarter worth about $203,000. 96.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO David Light sold 5,928 shares of TechnipFMC 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 transaction, the chief accounting officer now owns 11,534 shares in the company, valued at approximately $297,692.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.

TechnipFMC Stock Performance

NYSE:FTI opened at $26.26 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 company has a market cap of $11.32 billion, a price-to-earnings ratio of 55.87 and a beta of 1.52. TechnipFMC plc has a 1 year low of $16.04 and a 1 year high of $27.30. The stock’s 50 day simple moving average is $25.70 and its two-hundred day simple moving average is $23.23.

TechnipFMC (NYSE:FTI) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.96 billion. The business’s revenue was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that TechnipFMC plc will post 1.18 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTI. Bank of America lifted their price objective on TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a research report on Monday, April 15th. Susquehanna upped their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research report on Sunday, April 28th. TD Cowen upped their target price on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Benchmark reissued a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and an average price target 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.