Peregrine Capital Management LLC Buys 12,033 Shares of TechnipFMC plc (NYSE:FTI)

by · The Markets Daily

Peregrine Capital Management LLC grew its position in shares of TechnipFMC plc (NYSE:FTI – Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 369,011 shares of the oil and gas company’s stock after acquiring an additional 12,033 shares during the quarter. Peregrine Capital Management LLC owned 0.09% of TechnipFMC worth $11,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in TechnipFMC during the first quarter worth about $33,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of TechnipFMC in the 4th quarter worth approximately $46,000. Smartleaf Asset Management LLC grew its holdings in shares of TechnipFMC by 55.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,476 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 525 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of TechnipFMC by 393.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,678 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Westpac Banking Corp purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $55,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 1.1%

Shares of FTI stock opened at $34.57 on Monday. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.19 and a beta of 1.06. The company’s fifty day simple moving average is $31.15 and its two-hundred day simple moving average is $29.92. TechnipFMC plc has a 1 year low of $22.12 and a 1 year high of $36.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.84.

TechnipFMC (NYSE:FTI – Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). TechnipFMC had a net margin of 8.93% and a return on equity of 27.01%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current year.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Tuesday, May 20th were given a $0.05 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. TechnipFMC’s dividend payout ratio (DPR) is currently 10.53%.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price objective on shares of TechnipFMC in a research note on Monday, April 28th. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Friday. Barclays lifted their price objective on shares of TechnipFMC from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Susquehanna dropped their target price on shares of TechnipFMC from $41.00 to $35.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Finally, Sanford C. Bernstein lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating and set a $32.00 price target for the company. in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $36.46.

View Our Latest Research Report on TechnipFMC

TechnipFMC Profile

(Free Report)

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. 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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