Kopion Asset Management LLC Trims Stake in TechnipFMC plc $FTI

Kopion Asset Management LLC reduced its stake in TechnipFMC plc (NYSE:FTI) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,053 shares of the oil and gas company’s stock after selling 8,113 shares during the quarter. TechnipFMC makes up approximately 4.2% of Kopion Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Kopion Asset Management LLC’s holdings in TechnipFMC were worth $6,567,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. State Street Corp increased its position in TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after buying an additional 4,938,498 shares in the last quarter. Norges Bank purchased a new position in shares of TechnipFMC during the 4th quarter valued at about $205,468,000. Invesco Ltd. lifted its position in shares of TechnipFMC by 64.9% during the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after acquiring an additional 3,549,839 shares during the period. Finally, Northern Trust Corp grew its stake in shares of TechnipFMC by 46.2% during the 3rd quarter. Northern Trust Corp now owns 3,581,329 shares of the oil and gas company’s stock valued at $141,283,000 after acquiring an additional 1,132,216 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

NYSE FTI opened at $70.07 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $77.92. The business has a 50-day moving average price of $69.42 and a 200-day moving average price of $67.36. The firm has a market cap of $27.48 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that TechnipFMC plc will post 3.02 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Analysts Set New Price Targets

A number of research firms have commented on FTI. Evercore restated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Citigroup increased their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.