State of New Jersey Common Pension Fund D Has $7.83 Million Stock Holdings in TechnipFMC plc (NYSE:FTI)

State of New Jersey Common Pension Fund D lifted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,798 shares of the oil and gas company’s stock after buying an additional 8,488 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of TechnipFMC worth $7,830,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of TechnipFMC by 320.3% during the 3rd quarter. Vanguard Group Inc. now owns 39,788,733 shares of the oil and gas company’s stock worth $809,303,000 after buying an additional 30,323,011 shares during the last quarter. Invesco Ltd. boosted its stake in shares of TechnipFMC by 75.7% during the 3rd quarter. Invesco Ltd. now owns 12,969,978 shares of the oil and gas company’s stock worth $263,809,000 after buying an additional 5,587,050 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TechnipFMC by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,214,539 shares of the oil and gas company’s stock valued at $207,764,000 after purchasing an additional 593,828 shares during the last quarter. American Century Companies Inc. lifted its stake in TechnipFMC by 161.9% in the 3rd quarter. American Century Companies Inc. now owns 5,312,079 shares of the oil and gas company’s stock valued at $108,048,000 after purchasing an additional 3,283,972 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in TechnipFMC by 68.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 4,000,978 shares of the oil and gas company’s stock valued at $81,380,000 after purchasing an additional 1,629,170 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TechnipFMC

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of TechnipFMC stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $21.20, for a total transaction of $264,809.20. Following the completion of the transaction, the director now owns 103,982 shares of the company’s stock, valued at $2,204,418.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FTI shares. Barclays raised their target price on shares of TechnipFMC from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. TD Cowen increased their price target on shares of TechnipFMC from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday. Bank of America increased their price target on shares of TechnipFMC from $24.00 to $28.50 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of TechnipFMC in a report on Friday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.07.

TechnipFMC Stock Performance

TechnipFMC stock remained flat at $26.59 during mid-day trading on Friday. 3,542,472 shares of the company’s stock were exchanged, compared to its average volume of 4,720,067. The firm has a market cap of $11.62 billion, a P/E ratio of 221.58 and a beta of 1.65. The company has a fifty day moving average of $24.07 and a two-hundred day moving average of $21.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 1.16. TechnipFMC plc has a 1 year low of $12.64 and a 1 year high of $27.26.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.96 billion. TechnipFMC had a net margin of 0.72% and a return on equity of 6.37%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts forecast that TechnipFMC plc will post 1.15 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. TechnipFMC’s dividend payout ratio (DPR) is presently 166.67%.

TechnipFMC Company Profile

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.