Abacus FCF Advisors LLC Makes New Investment in TechnipFMC plc $FTI

Abacus FCF Advisors LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 153,954 shares of the oil and gas company's stock, valued at approximately $10,207,000. TechnipFMC comprises about 1.9% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in TechnipFMC in the 1st quarter worth $26,000. Newbridge Financial Services Group Inc. purchased a new position in TechnipFMC during the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. raised its position in TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in TechnipFMC in the 1st quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in TechnipFMC in the 4th quarter worth approximately $41,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Down 1.6%

NYSE:FTI opened at $77.07 on Thursday. The firm has a market capitalization of $30.23 billion, a P/E ratio of 26.76, a PEG ratio of 1.61 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. TechnipFMC plc has a one year low of $34.27 and a one year high of $80.55. The company's 50-day simple moving average is $70.86 and its 200 day simple moving average is $68.99.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business's revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. As a group, analysts forecast that TechnipFMC plc will post 3.08 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FTI shares. Citigroup lifted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Barclays lifted their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Susquehanna lowered their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, TechnipFMC has an average rating of "Moderate Buy" and an average target price of $69.64.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the business's stock in a transaction on 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 purchase, the director owned 8,070 shares in the company, 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 can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

TechnipFMC 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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