Massachusetts Financial Services Co. MA Has $228.38 Million Stake in TechnipFMC plc (NYSE:FTI)

Massachusetts Financial Services Co. MA lifted its stake in TechnipFMC plc (NYSE:FTI) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,733,621 shares of the oil and gas company’s stock after acquiring an additional 204,435 shares during the period. Massachusetts Financial Services Co. MA owned 2.03% of TechnipFMC worth $228,384,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Whittier Trust Co. bought a new position in shares of TechnipFMC in the 1st quarter valued at approximately $29,000. GAMMA Investing LLC raised its stake in shares of TechnipFMC by 73.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 492 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of TechnipFMC in the 4th quarter valued at approximately $33,000. ORG Partners LLC bought a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $33,000. Finally, Quarry LP raised its stake in shares of TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 768 shares in the last quarter. 96.58% of the stock is owned by institutional investors.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $25.49 on Wednesday. The business has a fifty day simple moving average of $26.56 and a 200 day simple moving average of $25.76. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 54.22 and a beta of 1.50. TechnipFMC plc has a one year low of $18.33 and a one year high of $29.85.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company posted $0.10 earnings per share. TechnipFMC’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts expect that TechnipFMC plc will post 1.34 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.78%. TechnipFMC’s dividend payout ratio is currently 42.55%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. StockNews.com downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Susquehanna lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, TechnipFMC currently has an average rating of “Moderate Buy” and an average target price of $29.38.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 5,928 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $25.81, for a total transaction of $153,001.68. Following the completion of the transaction, the chief accounting officer now directly owns 11,534 shares in the company, valued at $297,692.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

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.