Goldman Sachs Group Inc. Boosts Stock Position in TechnipFMC plc (NYSE:FTI)

Goldman Sachs Group Inc. raised its stake in TechnipFMC plc (NYSE:FTI) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,518,561 shares of the oil and gas company’s stock after purchasing an additional 85,451 shares during the period. Goldman Sachs Group Inc. owned 0.81% of TechnipFMC worth $70,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Quarry LP boosted its stake 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 in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of 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 worth $63,082,000 after buying an additional 2,808,618 shares during the last quarter. Seven Eight Capital LP raised its holdings in shares of TechnipFMC by 412.5% in the fourth quarter. Seven Eight Capital LP now owns 307,805 shares of the oil and gas company’s stock worth $6,199,000 after buying an additional 247,744 shares during the last quarter. KBC Group NV purchased a new position in shares of TechnipFMC in the fourth quarter worth $163,000. Finally, Campbell & CO Investment Adviser LLC raised its holdings in shares of TechnipFMC by 265.9% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 66,379 shares of the oil and gas company’s stock worth $1,337,000 after buying an additional 48,236 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.4 %

FTI stock opened at $24.35 on Tuesday. The firm has a market cap of $10.49 billion, a PE ratio of 51.81 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.87 and a current ratio of 1.16. The firm’s fifty day moving average is $25.79 and its 200 day moving average is $22.72. TechnipFMC plc has a one year low of $14.60 and a one year high of $27.30.

TechnipFMC (NYSE:FTI) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, research analysts forecast that TechnipFMC plc will post 1.18 EPS for the current year.

TechnipFMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Monday, May 20th. TechnipFMC’s payout ratio is 42.55%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FTI. HSBC cut shares of TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price target for the company. in a report on Friday, February 23rd. Piper Sandler raised their price target on shares of TechnipFMC from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Susquehanna raised their price target on shares of TechnipFMC from $27.00 to $34.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Barclays increased their price objective on shares of TechnipFMC from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, StockNews.com upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus target price 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.