15,245 Shares in TechnipFMC plc $FTI Bought by Globeflex Capital L P

Key Points

• Globeflex Capital purchased 15,245 TechnipFMC shares worth approximately $1.01 million in the second quarter. Institutional investors and hedge funds collectively own 96.58% of the company.
• TechnipFMC reported stronger-than-expected quarterly results, with earnings per share of $0.91 versus the $0.80 consensus estimate and revenue of $2.76 billion, up 9% year over year.
• The company declared a quarterly dividend of $0.05 per share, while director Eric D. Mullins purchased nearly $500,000 of stock. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $69.64.

Globeflex Capital L P bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,245 shares of the oil and gas company's stock, valued at approximately $1,011,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at $3,470,000. Chase Investment Counsel Corp purchased a new position in shares of TechnipFMC during the second quarter worth approximately $12,397,000. Oppenheimer Asset Management Inc. acquired a new position in shares of TechnipFMC in the 2nd quarter valued at $8,407,000. BankChampaign National Association acquired a new position in shares of TechnipFMC in the 1st quarter valued at $1,157,000. Finally, Fisher Asset Management LLC raised its position in TechnipFMC by 7.1% in the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company's stock valued at $18,200,000 after purchasing an additional 27,111 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Down 2.0%

Shares of NYSE FTI opened at $75.90 on Tuesday. The stock has a market capitalization of $29.76 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The firm has a 50-day moving average price of $71.29 and a 200 day moving average price of $69.43. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is presently 6.94%.

Insiders Place Their Bets

In other news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Finally, Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.64.

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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