Edgestream Partners L.P. Has $7.84 Million Holdings in TechnipFMC plc $FTI

Edgestream Partners L.P. lowered its position in shares of TechnipFMC plc (NYSE:FTI) by 55.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,345 shares of the oil and gas company’s stock after selling 141,480 shares during the quarter. Edgestream Partners L.P.’s holdings in TechnipFMC were worth $7,836,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in TechnipFMC by 28.6% during the first quarter. Janus Henderson Group PLC now owns 924,838 shares of the oil and gas company’s stock worth $63,957,000 after purchasing an additional 205,637 shares during the period. Bull Harbor Capital LLC bought a new stake in TechnipFMC in the first quarter worth approximately $2,800,000. Arkadios Wealth Advisors acquired a new position in TechnipFMC in the first quarter valued at approximately $205,000. Amundi boosted its holdings in shares of TechnipFMC by 44.8% during the 1st quarter. Amundi now owns 2,525,534 shares of the oil and gas company’s stock worth $174,590,000 after buying an additional 781,890 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of TechnipFMC by 11.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 23,143 shares of the oil and gas company’s stock worth $1,600,000 after buying an additional 2,457 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of FTI opened at $71.77 on Thursday. The firm has a market capitalization of $28.61 billion, a P/E ratio of 27.39, a P/E/G ratio of 1.52 and a beta of 0.70. TechnipFMC plc has a 52 week low of $34.27 and a 52 week high of $77.92. The stock has a 50 day moving average price of $69.52 and a two-hundred day moving average price of $66.82. 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 (NYSE:FTI) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Equities analysts forecast that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is 7.63%.

Analysts Set New Price Targets

Several research analysts recently issued reports on FTI shares. Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TechnipFMC has a consensus rating of “Moderate Buy” and an average price target of $69.64.

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.