33,433 Shares in TechnipFMC plc $FTI Bought by Evolve Private Wealth LLC

Key Points

• Evolve Private Wealth LLC acquired 33,433 TechnipFMC shares worth approximately $2.2 million, while institutional investors collectively own 96.58% of the company.
• TechnipFMC reported quarterly EPS of $0.91, exceeding the $0.80 consensus estimate, with revenue of $2.76 billion—up 9% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $69.64; the company also declared a $0.05 quarterly dividend.

Evolve Private Wealth LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 33,433 shares of the oil and gas company's stock, valued at approximately $2,217,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of TechnipFMC in the second quarter worth about $3,081,514,000. State Street Corp grew its position in shares of TechnipFMC by 62.2% during the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Norges Bank purchased a new position in shares of TechnipFMC in the 4th quarter valued at about $205,468,000. Invesco Ltd. raised its holdings in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the period. Finally, AQR Capital Management LLC raised its holdings in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after purchasing an additional 3,549,839 shares during the period. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Buying and Selling at TechnipFMC

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

Analyst Ratings Changes

FTI has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. Susquehanna dropped their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Evercore reaffirmed an "outperform" rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $69.64.

TechnipFMC Stock Performance

Shares of FTI opened at $77.62 on Friday. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The stock has a market cap of $30.44 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. The firm's fifty day moving average is $71.14 and its two-hundred day moving average is $69.21. 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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. Research analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

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.

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