The Vanguard Group, Inc. recently announced the acquisition of new stake in TechnipFMC plc (NYSE:FTI). The institutional investor has increased its shareholding in the Energy company by 1.51% to 27.56 million shares with purchase of 0.41 million shares. This fresh investment now brings its stake to 6.15% valued currently at $221.3 million. In addition, Pzena Investment Management LLC raised its holdings by 6.15 million to 18.37 million shares. And BlackRock Fund Advisors has lifted its position by 6.42% or 0.89 million shares – to 14.84 million shares.
With over 4.51 million TechnipFMC plc (FTI) shares trading Tuesday and a closing price of $7.69 on the day, the dollar volume was approximately $34.7 million. The shares have shown a negative weekly performance of -1.03% and its price on 09/01/20 lost nearly -0.13%. Currently, there are 448.30M common shares owned by the public and among those 446.29M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 29 analysts who have offered their price forecasts for FTI have a consensus price objective of $11.28. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $4.40 should the stock experience a downside. Incidentally, analysts’ outlook for the TechnipFMC plc stock is 2.30 for the next 12 months. The average price target is 34.83% above its last price level and an upside to the estimated low will see the stock lose -74.77% over that period. But an upside of 54.76% will see the stock hit the forecast high price target while mean target price for the stock is $11.20.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 1,058,022 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 56,656 shares.
The top 3 mutual fund holders in TechnipFMC plc are First Eagle Global Fund, Government Pension Fund – Global, and Vanguard 500 Index Fund. First Eagle Global Fund owns 13.23 million shares of the company’s stock, all valued at over $106.27 million. The company sold -2.7 million shares recently to bring their total holdings to about 2.95% of the shares outstanding. Government Pension Fund – Global sold -0.88 million shares to see its total holdings shrink to 10.26 million shares valued at over $82.35 million and representing 2.29% of the shares outstanding. Vanguard 500 Index Fund sold 33095.0 shares to bring its total holdings to over 8.69 million shares at a value of $69.74 million. Vanguard 500 Index Fund now owns shares totaling to 1.94% of the shares outstanding.
Shares of TechnipFMC plc (NYSE: FTI) opened at $7.48, down -$0.22 from a prior closing price of $7.70. However, the script later closed the day at $7.69, down -0.13%. The company’s stock has a 5-day price change of -1.03% and -13.01% over the past three months. FTI shares are trading -64.13% year to date (YTD), with the 12-month market performance down to -68.56% lower. It has a 12-month low price of $4.49 and touched a high of $26.53 over the same period. Currently, 4.51 million shares have been traded, compared to an average intraday trading volume of 6.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.48%, -0.93%, and -35.38% respectively.
Institutional ownership of TechnipFMC plc (NYSE: FTI) shares accounts for 84.60% of the company’s 448.30M shares outstanding. Mutual fund holders own 34.58%, while other institutional holders and individual stakeholders account for 43.71% and 1.00% respectively.
It has a market capitalization of $3.37B and a beta (3y monthly) value of 2.20. The earnings-per-share (ttm) stands at -$12.93. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.73% over the week and 3.63% over the month.
Analysts forecast that TechnipFMC plc (FTI) will achieve an EPS of $0.21 for the current quarter, $0.24 for the next quarter and $0.68 for 2021. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.36. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -29.30%, and 45.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate TechnipFMC plc (FTI) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 7 of the 29 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FTI, a number of firms have released research notes about the stock. HSBC Securities stated their Hold rating for the stock in a research note on August 07, 2020, with the firm’s price target at. Tudor Pickering coverage for the TechnipFMC plc (FTI) stock in a research note released on July 01, 2020 offered a Buy rating with a price target of. Jefferies was of a view on May 14, 2020 that the stock is Underperform, while Cowen gave the stock Outperform rating on April 27, 2020, issuing a price target of $15- $11. Societe Generale on their part issued Hold rating on April 21, 2020.