Peregrine Capital Management LLC Has $20.48 Million Holdings in TechnipFMC plc $FTI

Peregrine Capital Management LLC lessened its holdings in TechnipFMC plc (NYSE:FTI) by 18.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 296,264 shares of the oil and gas company’s stock after selling 65,204 shares during the period. TechnipFMC accounts for 0.8% of Peregrine Capital Management LLC’s holdings, making the stock its 24th biggest position. Peregrine Capital Management LLC owned about 0.07% of TechnipFMC worth $20,481,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FTI. Independent Advisor Alliance increased its stake in TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after acquiring an additional 184 shares during the last quarter. Personal CFO Solutions LLC increased its stake in shares of TechnipFMC by 3.0% in the 4th quarter. Personal CFO Solutions LLC now owns 7,759 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 225 shares during the last quarter. Evolve Private Wealth LLC raised its holdings in shares of TechnipFMC by 0.7% during the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after buying an additional 227 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of TechnipFMC by 5.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,266 shares of the oil and gas company’s stock worth $235,000 after buying an additional 262 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in TechnipFMC by 2.8% in the fourth quarter. Kestra Advisory Services LLC now owns 11,353 shares of the oil and gas company’s stock valued at $506,000 after buying an additional 305 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. Piper Sandler boosted their price objective on TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Citigroup lifted their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.00.

TechnipFMC Stock Up 1.6%

FTI stock opened at $66.28 on Wednesday. The stock’s 50 day simple moving average is $70.16 and its 200 day simple moving average is $62.99. The company has a market cap of $26.43 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 1.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. TechnipFMC’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, research analysts expect that TechnipFMC plc will post 2.98 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 7.63%.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.