Sagefield Capital LP Has $38.42 Million Stake in TechnipFMC plc (NYSE:FTI)

Sagefield Capital LP raised its holdings in shares of TechnipFMC plc (NYSE:FTI) by 27.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,469,217 shares of the oil and gas company’s stock after purchasing an additional 318,813 shares during the quarter. TechnipFMC accounts for about 4.1% of Sagefield Capital LP’s portfolio, making the stock its 8th largest holding. Sagefield Capital LP’s holdings in TechnipFMC were worth $38,420,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD boosted its holdings in TechnipFMC by 8.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock worth $1,019,337,000 after buying an additional 3,259,348 shares in the last quarter. Norges Bank bought a new stake in TechnipFMC during the fourth quarter worth approximately $61,570,000. Balyasny Asset Management L.P. boosted its holdings in TechnipFMC by 868.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,132,166 shares of the oil and gas company’s stock worth $63,082,000 after buying an additional 2,808,618 shares in the last quarter. Anomaly Capital Management LP boosted its holdings in TechnipFMC by 50.3% during the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock worth $89,429,000 after buying an additional 1,144,087 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in TechnipFMC by 182.8% during the fourth quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock worth $33,850,000 after buying an additional 1,086,400 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FTI. Susquehanna raised their price objective on shares of TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research note on Friday, July 26th. Citigroup raised their price objective on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.51.

TechnipFMC Stock Up 0.6 %

FTI stock opened at $27.37 on Tuesday. TechnipFMC plc has a 12-month low of $18.33 and a 12-month high of $29.85. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 58.23 and a beta of 1.50. The company has a 50 day moving average of $26.51 and a two-hundred day moving average of $25.92.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities analysts anticipate that TechnipFMC plc will post 1.34 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.73%. TechnipFMC’s dividend payout ratio is currently 42.55%.

Insider Activity

In other news, CAO David Light sold 5,928 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total transaction of $153,001.68. Following the transaction, the chief accounting officer now owns 11,534 shares in the company, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by insiders.

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.