Price T Rowe Associates Inc. MD Buys 3,259,348 Shares of TechnipFMC plc (NYSE:FTI)

Price T Rowe Associates Inc. MD increased its stake in TechnipFMC plc (NYSE:FTI) by 8.7% in the first quarter, HoldingsChannel reports. The fund owned 40,594,774 shares of the oil and gas company’s stock after purchasing an additional 3,259,348 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.09% of TechnipFMC worth $1,019,337,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its position in TechnipFMC by 70.6% in the first quarter. 1832 Asset Management L.P. now owns 54,735 shares of the oil and gas company’s stock valued at $1,374,000 after purchasing an additional 22,645 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of TechnipFMC in the first quarter worth $719,000. Keeley Teton Advisors LLC raised its holdings in TechnipFMC by 9.9% during the 1st quarter. Keeley Teton Advisors LLC now owns 427,283 shares of the oil and gas company’s stock valued at $10,729,000 after buying an additional 38,634 shares during the last quarter. Natixis Investment Managers International bought a new stake in TechnipFMC during the 1st quarter valued at $1,662,000. Finally, Pitcairn Co. bought a new stake in TechnipFMC in the 1st quarter worth $232,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a research note on Sunday, April 28th. Barclays upped their price target on TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Susquehanna lifted their price objective on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday. TD Cowen upped their target price on TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of TechnipFMC in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, TechnipFMC has a consensus rating of “Moderate Buy” and a consensus target price of $28.62.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 5,928 shares of TechnipFMC stock in a transaction dated 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 of the company’s stock, valued at approximately $297,692.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.06% of the company’s stock.

TechnipFMC Stock Up 1.7 %

TechnipFMC stock traded up $0.49 on Friday, hitting $28.87. 4,889,617 shares of the stock traded hands, compared to its average volume of 3,669,934. The business’s fifty day simple moving average is $26.03 and its 200 day simple moving average is $24.11. The firm has a market cap of $12.44 billion, a P/E ratio of 61.43 and a beta of 1.52. The company has a current ratio of 1.10, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. TechnipFMC plc has a 1 year low of $17.36 and a 1 year high of $29.24.

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, beating the consensus estimate of $0.31 by $0.12. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a net margin of 5.72% and a return on equity of 14.36%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that TechnipFMC plc will post 1.2 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio (DPR) is 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.