TechnipFMC plc (NYSE:FTI) Shares Purchased by Arizona State Retirement System

Posted by Defense World Staff on May 12th, 2023

Arizona State Retirement System boosted its position in TechnipFMC plc (NYSE:FTI – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,223 shares of the oil and gas company’s stock after purchasing an additional 4,480 shares during the quarter. Arizona State Retirement System’s holdings in TechnipFMC were worth $1,478,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FTI. Signaturefd LLC raised its stake in TechnipFMC by 88.5% in the 4th quarter. Signaturefd LLC now owns 2,964 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,392 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new position in TechnipFMC in the 3rd quarter valued at $37,000. Captrust Financial Advisors raised its stake in TechnipFMC by 65.1% in the 2nd quarter. Captrust Financial Advisors now owns 7,461 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 2,943 shares during the last quarter. Stephens Inc. AR acquired a new position in TechnipFMC in the 4th quarter valued at $54,000. Finally, Tower Research Capital LLC TRC raised its stake in TechnipFMC by 199.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,612 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 4,404 shares during the last quarter. 94.52% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

NYSE FTI opened at $14.08 on Friday. The stock has a fifty day simple moving average of $13.57 and a 200-day simple moving average of $12.89. TechnipFMC plc has a twelve month low of $5.47 and a twelve month high of $16.03. The stock has a market cap of $6.22 billion, a PE ratio of -140.80 and a beta of 1.74. The company has a current ratio of 1.20, a quick ratio of 0.93 and a debt-to-equity ratio of 0.33.

TechnipFMC (NYSE:FTI – Get Rating) last announced its earnings results on Thursday, February 23rd. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.08). TechnipFMC had a negative net margin of 0.66% and a positive return on equity of 0.04%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business earned ($0.12) earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Equities analysts anticipate that TechnipFMC plc will post 0.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on FTI shares. StockNews.com started coverage on TechnipFMC in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Benchmark started coverage on TechnipFMC in a research note on Thursday, January 19th. They issued a “buy” rating and a $15.00 target price for the company. Citigroup raised their target price on TechnipFMC from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. BTIG Research raised their target price on TechnipFMC from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. Finally, Barclays raised their target price on TechnipFMC from $14.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, February 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.10.

Insider Activity at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 22,208 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $15.10, for a total transaction of $335,340.80. Following the completion of the transaction, the director now directly owns 107,092 shares in the company, valued at approximately $1,617,089.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.06% of the stock is currently owned by company insiders.

TechnipFMC Company Profile

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TechnipFMC plc is an energy service company, which engages in the provision of solutions for the production and transformation of hydrocarbons. It operates through the following segments: Subsea and Surface Technologies. The Subsea segment engages in designs and manufactures products and systems, performs engineering, procurement and project management, and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas.

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Institutional Ownership by Quarter for TechnipFMC (NYSE:FTI)

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