Renaissance Technologies LLC Has $9.31 Million Stake in TechnipFMC plc (NYSE:FTI)

Renaissance Technologies LLC boosted its holdings in TechnipFMC plc (NYSE:FTI) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,900 shares of the oil and gas company’s stock after purchasing an additional 27,300 shares during the period. Renaissance Technologies LLC owned about 0.08% of TechnipFMC worth $9,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FTI. Price T Rowe Associates Inc. MD grew its holdings in shares of TechnipFMC by 8.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,594,774 shares of the oil and gas company’s stock valued at $1,019,337,000 after acquiring an additional 3,259,348 shares in the last quarter. Norges Bank bought a new position in TechnipFMC in the fourth quarter valued at approximately $61,570,000. Balyasny Asset Management L.P. grew its stake in TechnipFMC by 868.1% in the fourth 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 in the last quarter. TD Asset Management Inc increased its position in shares of TechnipFMC by 182.8% during the 4th quarter. TD Asset Management Inc now owns 1,680,716 shares of the oil and gas company’s stock worth $33,850,000 after purchasing an additional 1,086,400 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of TechnipFMC by 56.7% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,954,356 shares of the oil and gas company’s stock worth $74,184,000 after purchasing an additional 1,068,788 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTI has been the topic of a number of recent analyst reports. Citigroup boosted their target price on shares of TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Susquehanna boosted 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. Finally, StockNews.com downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.51.

TechnipFMC Trading Up 1.6 %

Shares of TechnipFMC stock opened at $27.81 on Wednesday. TechnipFMC plc has a 52-week low of $18.33 and a 52-week high of $29.85. The stock has a market cap of $11.99 billion, a PE ratio of 59.17 and a beta of 1.50. The firm has a 50-day moving average of $26.50 and a 200-day moving average of $25.96. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.10.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, topping 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 company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the business earned $0.10 earnings per share. TechnipFMC’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.34 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th were paid a $0.05 dividend. 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 0.72%. TechnipFMC’s payout ratio is currently 42.55%.

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.