13,608 Shares in TechnipFMC plc $FTI Acquired by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors acquired 13,608 TechnipFMC shares worth approximately $902,000 in the second quarter. Institutional investors collectively own 96.58% of the company.
• TechnipFMC reported quarterly EPS of $0.91, exceeding the $0.80 analyst consensus, while revenue rose 9% year over year to $2.76 billion. Shares opened at $77.62, near the company’s 52-week high of $80.55.
• The company declared a quarterly dividend of $0.05 per share, equivalent to a 0.3% yield. Analysts maintain a “Moderate Buy” consensus, although the average price target of $69.64 is below the recent share price.

Great Lakes Advisors LLC bought a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,608 shares of the oil and gas company's stock, valued at approximately $902,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ANB Bank lifted its holdings in shares of TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company's stock worth $339,000 after acquiring an additional 161 shares during the last quarter. PFG Investments LLC grew its holdings in shares of TechnipFMC by 2.4% during the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company's stock valued at $495,000 after purchasing an additional 165 shares during the last quarter. Independent Advisor Alliance raised its position in TechnipFMC by 0.3% in the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock worth $2,730,000 after purchasing an additional 184 shares during the period. Evolve Private Wealth LLC raised its position in TechnipFMC by 0.7% in the 1st quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company's stock worth $2,411,000 after purchasing an additional 227 shares during the period. Finally, Caerus Investment Advisors LLC lifted its stake in TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company's stock worth $1,661,000 after purchasing an additional 259 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Performance

Shares of FTI opened at $77.62 on Friday. The stock has a market capitalization of $30.44 billion, a P/E ratio of 26.95, a PEG ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $71.14 and a two-hundred day simple moving average of $69.21.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, research analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC's payout ratio is currently 6.94%.

Wall Street Analysts Forecast Growth

FTI has been the subject of several analyst reports. Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Citigroup boosted their target price on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Susquehanna reduced their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $69.64.

Insider Buying and Selling

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares of the company's stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by insiders.

TechnipFMC Company Profile

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.

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