TechnipFMC plc (NYSE:FTI) Shares Acquired by Boston Partners

Key Points

• Boston Partners significantly increased its stake in TechnipFMC plc by 648.3%, acquiring an additional 2,279,247 shares in the first quarter, raising its total holdings to approximately $83 million.
• TechnipFMC reported a 9% year-over-year revenue increase of $2.53 billion and earnings per share of $0.68, exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.05 per share with a yield of 0.6%, indicating a low payout ratio of 9.43%.

Boston Partners increased its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 648.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,630,793 shares of the oil and gas company's stock after buying an additional 2,279,247 shares during the period. Boston Partners owned 0.63% of TechnipFMC worth $83,281,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC raised its stake in shares of TechnipFMC by 29.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 1,511 shares of the oil and gas company's stock valued at $48,000 after acquiring an additional 346 shares in the last quarter. Diversify Advisory Services LLC raised its position in TechnipFMC by 5.1% during the 1st quarter. Diversify Advisory Services LLC now owns 7,506 shares of the oil and gas company's stock valued at $238,000 after purchasing an additional 362 shares in the last quarter. Acuitas Investments LLC lifted its holdings in shares of TechnipFMC by 13.4% in the 1st quarter. Acuitas Investments LLC now owns 3,394 shares of the oil and gas company's stock worth $108,000 after buying an additional 400 shares during the period. KBC Group NV grew its position in shares of TechnipFMC by 2.4% during the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock worth $575,000 after buying an additional 429 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of TechnipFMC by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after buying an additional 614 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

Shares of NYSE FTI traded down $0.59 during midday trading on Friday, reaching $35.01. The company had a trading volume of 2,983,507 shares, compared to its average volume of 4,004,726. TechnipFMC plc has a 1 year low of $22.11 and a 1 year high of $38.05. The business's 50-day simple moving average is $34.80 and its 200 day simple moving average is $30.96. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market cap of $14.39 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.15 and a beta of 1.04.

TechnipFMC (NYSE:FTI - Get Free Report) last released its earnings results on Thursday, July 24th. The oil and gas company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.49 billion. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The firm's revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. On average, analysts forecast that TechnipFMC plc will post 1.63 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. TechnipFMC's dividend payout ratio is currently 9.43%.

Insider Buying and Selling

In other TechnipFMC news, Director Rousset Sophie Zurquiyah sold 9,381 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares of the company's stock, valued at approximately $2,337,743.36. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FTI shares. Evercore ISI increased their target price on shares of TechnipFMC from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wall Street Zen raised shares of TechnipFMC from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup reissued a "buy" rating and set a $41.00 price objective (up from $35.00) on shares of TechnipFMC in a report on Thursday, July 10th. Royal Bank Of Canada upped their target price on TechnipFMC from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Finally, Sanford C. Bernstein cut TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.92.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.