The Vanguard Group, Inc. has recently announced that it has increased stake in TechnipFMC plc (NYSE:FTI) by 340.79%. After grabbing 39.21 million shares, the institutional investor is now in possession of 30.31 million shares of the Energy Company. The new investment brought the stake of investor firm to 9.00% having worth around $812.44 million. Moreover, JPMorgan Investment Management, I increased its share by 4.32 million to have a control over 23.47 million shares. And T. Rowe Price Investment Manageme raised its holdings to 10.94 million shares by acquiring 21.41 million shares or 4.92% of the stake.
TechnipFMC plc (FTI) concluded trading on December 20, 2023 at a closing price of $20.18, with 3.24 million shares of worth about $65.46 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 34.26% during that period and On Wednesday the price saw a loss of about -0.84%. Currently the company’s common shares owned by public are about 442.20M shares, out of which, 430.49M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 513,909 shares in 18 of the transactions. In 3 selling transactions, insiders dumped 38,866 shares.
Vanguard Total Stock Market ETF, T Rowe Price Mid Cap Value Fund, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in TechnipFMC plc Vanguard Total Stock Market ETF is currently holding 13.02 million shares of worth totaling $269.81 million. The company recently came buying 55316.0 shares which brought its stake up to 2.99% of the company’s outstanding shares. T Rowe Price Mid Cap Value Fund sold -2.56 million shares, after which its hold over company’s outstanding shares shrunk to 2.81%, leaving 12.23 million shares with the mutual fund that have a worth of about $253.44 million. Vanguard Small Cap Index Fund, after buying 10.73 million shares, have now control over 2.46% of the stake in the company. It holds 21412.0 shares of worth $222.36 million.
However, the stock later moved at a day high price of 20.69, or with a loss of -0.84%. Stock saw a price change of 4.45% in past 5 days and over the past one month there was a price change of -3.72%. Year-to-date (YTD), FTI shares are showing a performance of 65.55% which increased to 75.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.34 but also hit the highest price of $22.78 during that period. The average intraday trading volume for TechnipFMC plc shares is 5.56 million. The stock is currently trading 0.55% above its 20-day simple moving average (SMA20), while that difference is down -2.21% for SMA50 and it goes to 16.36% higher than SMA200.
The Vanguard Group, Inc. acquired 39.21 million shares of TechnipFMC plc having value of about $812.44 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 30.31 million shares in the company valued at close to $611752664.0, or have control over 340.79% stake in the company. TechnipFMC plc (NYSE: FTI) currently have 442.20M outstanding shares and institutions hold larger chunk of about 104.13% of that. Holding of mutual funds in the company is about 35.32% while other institutional holders and individual stake holders have control over 69.33% and 2.00% of the stake respectively.
The stock has a current market capitalization of $8.79B and its 3Y-monthly beta is at 1.66. It has posted earnings per share of -$0.08 in the same period. It has Quick Ratio of 0.91 while making debt-to-equity ratio of 0.73. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FTI, volatility over the week remained 2.78% while standing at 3.02% over the month.
Analysts are in expectations that TechnipFMC plc (FTI) stock would likely to be making an EPS of $0.12 in the current quarter, while forecast for next quarter EPS is $0.15 and it is $1.15 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.07 which is $0.16 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1648.31% while it is estimated to increase by 149.13% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Exane BNP Paribas on November 06, 2023 offering a Neutral rating for the stock and assigned a target price of $23.50 to it.
