Baird Financial Group Inc. Grows Position in TechnipFMC plc $FTI

Key Points

• Baird Financial Group increased its TechnipFMC stake by 253% in the second quarter, bringing its holdings to 172,911 shares valued at approximately $11.5 million. Institutional investors collectively own 96.58% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $69.64; ratings include one Strong Buy, 12 Buys, and three Holds.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in EPS versus the $0.80 consensus and $2.76 billion in revenue, up 9% year over year. The company also declared a quarterly dividend of $0.05 per share.

Baird Financial Group Inc. raised its stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 253.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 172,911 shares of the oil and gas company's stock after purchasing an additional 123,929 shares during the period. Baird Financial Group Inc.'s holdings in TechnipFMC were worth $11,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Arizona State Retirement System increased its stake in shares of TechnipFMC by 3.2% in the second quarter. Arizona State Retirement System now owns 114,674 shares of the oil and gas company's stock worth $7,603,000 after purchasing an additional 3,544 shares in the last quarter. Waverly Advisors LLC raised its holdings in TechnipFMC by 4.1% during the second quarter. Waverly Advisors LLC now owns 19,248 shares of the oil and gas company's stock valued at $1,276,000 after acquiring an additional 760 shares during the period. Corient Private Wealth LP lifted its position in shares of TechnipFMC by 456.8% in the second quarter. Corient Private Wealth LP now owns 79,162 shares of the oil and gas company's stock valued at $5,248,000 after acquiring an additional 64,945 shares in the last quarter. Tucker Asset Management LLC purchased a new position in shares of TechnipFMC in the second quarter valued at about $436,000. Finally, Amundi boosted its stake in shares of TechnipFMC by 72.6% in the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock worth $288,943,000 after acquiring an additional 1,832,581 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings raised TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. Citigroup upped their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. One 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $69.64.

Insider Activity at TechnipFMC

In other news, Director Eric Mullins acquired 6,365 shares of the company's stock in a transaction on Friday, August 14th. The stock was bought at an average cost 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 of the company's stock, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company's stock.

TechnipFMC Trading Up 0.0%

Shares of FTI opened at $76.37 on Monday. The company's fifty day moving average is $74.55 and its 200 day moving average is $71.09. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.70. The stock has a market capitalization of $29.95 billion, a PE ratio of 26.52, a P/E/G ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

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 the consensus estimate of $0.80 by $0.11. The business 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%. TechnipFMC's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. Sell-side analysts expect that TechnipFMC plc will post 3.17 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.

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