Oliver Luxxe Assets LLC Has $5.11 Million Holdings in TechnipFMC plc (NYSE:FTI)

Oliver Luxxe Assets LLC raised its position in TechnipFMC plc (NYSE:FTI) by 25.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 194,698 shares of the oil and gas company’s stock after acquiring an additional 39,807 shares during the period. Oliver Luxxe Assets LLC’s holdings in TechnipFMC were worth $5,107,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in TechnipFMC by 8.7% in the first 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 during the period. Vanguard Group Inc. grew its stake in TechnipFMC by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,049,860 shares of the oil and gas company’s stock valued at $1,005,652,000 after acquiring an additional 134,880 shares during the period. Massachusetts Financial Services Co. MA grew its stake in TechnipFMC by 2.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,733,621 shares of the oil and gas company’s stock valued at $228,384,000 after acquiring an additional 204,435 shares during the period. Goldman Sachs Group Inc. grew its stake in TechnipFMC by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,518,561 shares of the oil and gas company’s stock valued at $70,864,000 after acquiring an additional 85,451 shares during the period. Finally, Anomaly Capital Management LP grew its stake in TechnipFMC by 50.3% in the second quarter. Anomaly Capital Management LP now owns 3,419,833 shares of the oil and gas company’s stock valued at $89,429,000 after acquiring an additional 1,144,087 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $27.65 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.84. The business has a fifty day simple moving average of $26.14 and a two-hundred day simple moving average of $26.19. TechnipFMC plc has a 1 year low of $18.33 and a 1 year high of $29.85. The company has a market capitalization of $11.92 billion, a P/E ratio of 58.83 and a beta of 1.50.

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 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 the consensus estimate of $2.23 billion. During the same period last year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, analysts expect that TechnipFMC plc will post 1.37 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 20th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Tuesday, August 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

Analysts Set New Price Targets

A number of brokerages have commented on FTI. Susquehanna raised their price objective on TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a research note on Friday, July 26th. StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. BMO Capital Markets raised their target price on TechnipFMC from $32.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday. Finally, Citigroup raised their target price on TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.51.

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.