486,810 Shares in TechnipFMC plc (NYSE:FTI) Acquired by Abeille Asset Management SA

Abeille Asset Management SA purchased a new position in shares of TechnipFMC plc (NYSE:FTI – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 486,810 shares of the oil and gas company’s stock, valued at approximately $2,896,000. TechnipFMC makes up 0.7% of Abeille Asset Management SA’s portfolio, making the stock its 19th largest position. Abeille Asset Management SA owned about 0.11% of TechnipFMC as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in TechnipFMC by 89.0% in the third quarter. Franklin Resources Inc. now owns 16,025,655 shares of the oil and gas company’s stock valued at $120,675,000 after buying an additional 7,545,761 shares in the last quarter. Monaco Asset Management SAM acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $16,724,000. Allspring Global Investments Holdings LLC acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $16,607,000. Dimensional Fund Advisors LP boosted its position in TechnipFMC by 23.9% in the third quarter. Dimensional Fund Advisors LP now owns 12,419,670 shares of the oil and gas company’s stock valued at $93,519,000 after buying an additional 2,393,878 shares in the last quarter. Finally, Citigroup Inc. boosted its position in TechnipFMC by 59.5% in the third quarter. Citigroup Inc. now owns 4,008,905 shares of the oil and gas company’s stock valued at $30,188,000 after buying an additional 1,494,699 shares in the last quarter. Institutional investors and hedge funds own 88.53% of the company’s stock.

A number of analysts have weighed in on the stock. Kepler Capital Markets upgraded shares of TechnipFMC from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, February 28th. StockNews.com initiated coverage on shares of TechnipFMC in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Societe Generale raised shares of TechnipFMC from a “hold” rating to a “buy” rating and raised their price target for the company from $7.57 to $10.00 in a research note on Tuesday, April 19th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $10.50.

NYSE FTI traded up $0.05 during mid-day trading on Tuesday, reaching $6.90. 8,512,599 shares of the stock were exchanged, compared to its average volume of 10,688,218. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.43. The stock has a market cap of $3.12 billion, a PE ratio of -7.46 and a beta of 1.90. The company has a 50 day moving average of $7.67. TechnipFMC plc has a one year low of $5.55 and a one year high of $10.70.

TechnipFMC (NYSE:FTI – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The oil and gas company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.58 billion. TechnipFMC had a negative return on equity of 3.41% and a negative net margin of 6.58%. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Sell-side analysts expect that TechnipFMC plc will post 0.16 EPS for the current fiscal year.

TechnipFMC Company Profile (Get Rating)

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses in Europe, Central Asia, North and Latin America, the Asia Pacific, Africa, and the Middle East. 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.

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