Bleakley Financial Group LLC Takes $2.47 Million Position in TechnipFMC plc $FTI

Key Points

• Bleakley Financial Group opened a new position in TechnipFMC during the first quarter, buying 35,778 shares valued at about $2.47 million.
• Several other institutional investors also added to or initiated stakes in the oilfield services company, and institutions now own 96.58% of TechnipFMC’s shares.
• TechnipFMC reported better-than-expected Q1 earnings of $0.64 per share, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $69.64.

Bleakley Financial Group LLC acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,778 shares of the oil and gas company's stock, valued at approximately $2,473,000.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the first quarter valued at approximately $26,000. Harbor Investment Advisory LLC purchased a new position in shares of TechnipFMC during the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the third quarter worth $32,000. Geneos Wealth Management Inc. grew 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 valued at $35,000 after buying an additional 340 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC in the first quarter valued at $37,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

FTI has been the topic of several research reports. Zacks Research lowered TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings raised TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Tuesday. Citigroup boosted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Barclays increased their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Stock Down 0.4%

TechnipFMC stock opened at $72.01 on Friday. The firm has a market capitalization of $28.71 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.54 and a beta of 0.70. The company has a current ratio of 1.13, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78. The stock's fifty day simple moving average is $69.22 and its 200-day simple moving average is $65.10.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the business posted $0.33 earnings per share. TechnipFMC's revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that TechnipFMC plc will post 3.01 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Tuesday, May 19th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC's dividend payout ratio (DPR) is currently 7.63%.

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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