Biltmore Wealth Management LLC Invests $428,000 in TechnipFMC PLC (FTI) Stock

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Biltmore Wealth Management LLC purchased a new stake in TechnipFMC PLC (NYSE:FTI) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 18,186 shares of the oil and gas company’s stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FTI. Norges Bank acquired a new position in shares of TechnipFMC in the 4th quarter valued at about $210,592,000. Amundi Pioneer Asset Management Inc. lifted its position in TechnipFMC by 69.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 19,834,598 shares of the oil and gas company’s stock valued at $388,362,000 after purchasing an additional 8,097,644 shares during the last quarter. Aviva PLC lifted its position in TechnipFMC by 106.1% in the 4th quarter. Aviva PLC now owns 10,029,403 shares of the oil and gas company’s stock valued at $202,577,000 after purchasing an additional 5,162,133 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in TechnipFMC by 1,834.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 926,996 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 879,078 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in TechnipFMC in the 3rd quarter valued at about $25,005,000. 70.20% of the stock is owned by institutional investors and hedge funds.

NYSE FTI opened at $24.67 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.15 and a current ratio of 1.29. The company has a market capitalization of $11.53 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 3.08 and a beta of 1.24. TechnipFMC PLC has a 12 month low of $18.20 and a 12 month high of $34.39.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Wednesday, February 20th. The oil and gas company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.46). The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.40 billion. TechnipFMC had a positive return on equity of 2.94% and a negative net margin of 15.31%. TechnipFMC’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 earnings per share. On average, research analysts expect that TechnipFMC PLC will post 1.34 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Tuesday, March 19th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.52 annualized dividend and a dividend yield of 2.11%.

Several analysts recently weighed in on FTI shares. Wells Fargo & Co set a $26.00 price objective on shares of TechnipFMC and gave the company a “buy” rating in a research report on Friday, February 22nd. Berenberg Bank started coverage on shares of TechnipFMC in a research report on Tuesday, February 26th. They issued a “buy” rating on the stock. BNP Paribas upgraded shares of TechnipFMC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 22nd. Cowen reiterated a “buy” rating on shares of TechnipFMC in a research report on Tuesday, February 26th. Finally, Goldman Sachs Group started coverage on shares of TechnipFMC in a research report on Sunday, March 10th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.54.

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About TechnipFMC

TechnipFMC plc engages in the oil and gas projects, technologies, and systems and services businesses. It operates through three segments: Subsea, Onshore/Offshore, and Surface Technologies. The Subsea segment manufactures and designs products and systems; performs engineering, procurement, and project management; and provides services used by oil and gas companies involved in deepwater 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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