20,097 Shares in TechnipFMC plc $FTI Purchased by Allworth Financial LP

Key Points

• Institutional buying increased: Allworth Financial acquired 20,097 TechnipFMC shares valued at approximately $1.33 million, while several other funds also raised their positions. Institutions collectively own 96.58% of the company.
• Quarterly results exceeded expectations: TechnipFMC reported adjusted earnings of $0.91 per share versus the $0.80 consensus estimate, while revenue rose 9% year over year to $2.76 billion.
• Market sentiment remains positive: Analysts collectively rate FTI a “Moderate Buy,” and the company’s director Eric D. Mullins purchased nearly $500,000 worth of shares. The quarterly dividend is $0.05 per share, equivalent to a 0.3% annual yield.

Allworth Financial LP acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 20,097 shares of the oil and gas company's stock, valued at approximately $1,332,000.

Other hedge funds have also made changes to their positions in the company. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock worth $764,000 after purchasing an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock worth $35,000 after buying an additional 340 shares in the last quarter. Sivia Capital Partners LLC boosted its position in TechnipFMC by 76.1% during the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after acquiring an additional 6,381 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock worth $188,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Ossiam grew its stake in TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 546 shares in the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $77.62 on Friday. The company has a market capitalization of $30.44 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The company has a 50 day simple moving average of $71.14 and a 200-day simple moving average of $69.21. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.55.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 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 return on equity of 36.54% and a net margin of 11.28%.The firm's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. On average, equities research analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's dividend payout ratio is presently 6.94%.

Analysts Set New Price Targets

A number of research firms have commented on FTI. UBS Group set a $80.00 price objective on shares of TechnipFMC in a report on Wednesday, June 3rd. Susquehanna lowered their target price on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada upped their price target on TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.64.

Insiders Place Their Bets

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