Marietta Investment Partners LLC Has $5.74 Million Holdings in TechnipFMC plc $FTI

Marietta Investment Partners LLC increased its holdings in shares of TechnipFMC plc (NYSE:FTI) by 35.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,085 shares of the oil and gas company’s stock after acquiring an additional 21,606 shares during the quarter. TechnipFMC comprises about 1.2% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 26th largest holding. Marietta Investment Partners LLC’s holdings in TechnipFMC were worth $5,744,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC in the first quarter valued at approximately $37,000. HBE Wealth Management LLC acquired a new stake in TechnipFMC during the first quarter worth approximately $211,000. Praxis Investment Management Inc. grew its position in TechnipFMC by 26.7% during the first quarter. Praxis Investment Management Inc. now owns 14,009 shares of the oil and gas company’s stock worth $968,000 after buying an additional 2,954 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in TechnipFMC during the 1st quarter worth $206,000. Finally, V Square Quantitative Management LLC acquired a new position in TechnipFMC in the 1st quarter valued at $26,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Down 0.0%

Shares of FTI stock opened at $66.72 on Monday. The firm has a market capitalization of $26.60 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.43 and a beta of 0.70. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The company has a quick ratio of 0.88, a current ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $69.83 and its 200 day simple moving average is $63.41.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. As a group, sell-side analysts predict that TechnipFMC plc will post 2.98 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

Analysts Set New Price Targets

FTI has been the subject of a number of recent analyst reports. Zacks Research downgraded TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Piper Sandler increased their price objective on shares of TechnipFMC from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and an average target price of $70.00.

About TechnipFMC

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.