Barlow Wealth Partners LLC Reduces Stock Position in TechnipFMC plc $FTI

Key Points

• Barlow Wealth Partners reduced its TechnipFMC position by 11.3% in the second quarter, selling 49,429 shares and retaining 389,000 shares valued at approximately $27.4 million.
• Analyst sentiment remains favorable, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $69.64.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 EPS and $2.76 billion in revenue, up 9% year over year; Director Eric Mullins also purchased nearly $500,000 of shares.

Barlow Wealth Partners LLC cut its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,000 shares of the oil and gas company's stock after selling 49,429 shares during the quarter. TechnipFMC makes up 2.8% of Barlow Wealth Partners LLC's investment portfolio, making the stock its 15th largest position. Barlow Wealth Partners LLC owned about 0.10% of TechnipFMC worth $27,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTI. Kickstand Ventures LLC. purchased a new position in TechnipFMC in the 2nd quarter valued at about $201,000. Concurrent Investment Advisors LLC grew its holdings in TechnipFMC by 246.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 15,200 shares of the oil and gas company's stock worth $1,008,000 after buying an additional 10,818 shares in the last quarter. Power Wealth Management LLC acquired a new position in shares of TechnipFMC during the second quarter valued at $242,000. Coppell Advisory Solutions LLC bought a new stake in shares of TechnipFMC during the 2nd quarter worth about $35,000. Finally, Secure Asset Management LLC lifted its position in TechnipFMC by 21.2% in the second quarter. Secure Asset Management LLC now owns 4,171 shares of the oil and gas company's stock worth $277,000 after purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 96.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Susquehanna decreased their price target 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. Jefferies Financial Group restated a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Weiss Ratings lowered shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, August 27th. Finally, UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and an average target price of $69.64.

Insider Transactions at TechnipFMC

In related news, Director Eric Mullins purchased 6,365 shares of the stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares of the company's stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company's stock.

TechnipFMC Trading Up 0.3%

FTI stock opened at $79.91 on Friday. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.70. The business has a fifty day moving average price of $73.10 and a 200 day moving average price of $70.43. 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 stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 1.59 and a beta of 0.74.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the business earned $0.68 earnings per share. TechnipFMC's quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

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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