TechnipFMC plc $FTI Holdings Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in TechnipFMC plc (NYSE:FTI) by 232.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 139,790 shares of the oil and gas company’s stock after purchasing an additional 97,776 shares during the period. Illinois Municipal Retirement Fund’s holdings in TechnipFMC were worth $9,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lido Advisors LLC grew its stake in shares of TechnipFMC by 14.4% in the 3rd quarter. Lido Advisors LLC now owns 5,670 shares of the oil and gas company’s stock valued at $385,000 after purchasing an additional 715 shares during the last quarter. AlphaCore Capital LLC increased its holdings in shares of TechnipFMC by 28.0% in the third quarter. AlphaCore Capital LLC now owns 12,204 shares of the oil and gas company’s stock valued at $829,000 after purchasing an additional 2,667 shares during the period. Retirement Systems of Alabama raised its stake in shares of TechnipFMC by 5.9% during the third quarter. Retirement Systems of Alabama now owns 465,796 shares of the oil and gas company’s stock worth $31,637,000 after purchasing an additional 26,025 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of TechnipFMC by 50.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,987 shares of the oil and gas company’s stock worth $81,173,000 after purchasing an additional 392,736 shares during the last quarter. Finally, Entrust Financial LLC raised its stake in shares of TechnipFMC by 361.8% during the third quarter. Entrust Financial LLC now owns 956 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 749 shares during the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

NYSE FTI opened at $64.97 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $70.10 and its two-hundred day moving average is $69.52. TechnipFMC plc has a 12-month low of $42.46 and a 12-month high of $80.70. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.01 and a beta of 0.89.

TechnipFMC (NYSE:FTI) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.17. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.79 billion. TechnipFMC had a return on equity of 39.82% and a net margin of 12.04%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Research analysts expect that TechnipFMC plc will post 3.31 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Tuesday, November 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, November 17th. TechnipFMC’s dividend payout ratio is currently 6.29%.

Insiders Place Their Bets

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the transaction, the insider owned 85,813 shares in the company, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup increased their price target on TechnipFMC from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Zacks Research raised shares of TechnipFMC from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Piper Sandler raised their target price on shares of TechnipFMC from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Finally, Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.18.

About TechnipFMC

TechnipFMC is a global technology and services company serving the energy industry. It designs and delivers equipment and solutions for offshore and onshore oil and gas projects, with a particular focus on subsea production and related services. Its offerings include subsea production systems, subsea installation and project services, and surface wellhead and production equipment. TechnipFMC also provides engineering and project-management capabilities, working with customers to develop and operate energy projects.