19,625 Shares in TechnipFMC plc $FTI Purchased by Proficio Capital Partners LLC

Key Points

• Proficio Capital Partners acquired 19,625 TechnipFMC shares worth approximately $1.3 million in the second quarter. Other institutions also initiated positions, bringing institutional and hedge-fund ownership to 96.58%.
• TechnipFMC reported quarterly EPS of $0.91, exceeding estimates of $0.80, while revenue rose 9% year over year to $2.76 billion.
• Director Eric D. Mullins purchased nearly $500,000 of company stock. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus, although the average price target of $69.64 is below the reported share price.

Proficio Capital Partners LLC bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,625 shares of the oil and gas company's stock, valued at approximately $1,301,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC purchased a new position in shares of TechnipFMC during the second quarter valued at approximately $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC in the 2nd quarter worth approximately $12,397,000. Globeflex Capital L P acquired a new position in TechnipFMC in the 2nd quarter valued at $1,011,000. Oppenheimer Asset Management Inc. acquired a new position in TechnipFMC in the 2nd quarter valued at $8,407,000. Finally, BankChampaign National Association purchased a new position in shares of TechnipFMC during the 1st quarter worth $1,157,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Eric D. Mullins purchased 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares of the company's stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

TechnipFMC Trading Up 0.7%

Shares of FTI opened at $75.71 on Thursday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55. The firm has a market capitalization of $29.69 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock's fifty day simple moving average is $71.62 and its 200 day simple moving average is $69.70.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results 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. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is presently 6.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FTI shares. UBS Group set a $80.00 price objective on TechnipFMC in a research report on Wednesday, June 3rd. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada upped their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source