California State Teachers Retirement System Acquires 911,627 Shares of TechnipFMC plc $FTI

California State Teachers Retirement System raised its position in TechnipFMC plc (NYSE:FTI - Free Report) by 193.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,381,966 shares of the oil and gas company's stock after purchasing an additional 911,627 shares during the period. California State Teachers Retirement System owned 0.35% of TechnipFMC worth $91,624,346 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FTI. V Square Quantitative Management LLC purchased a new stake in TechnipFMC during the first quarter valued at $26,000. Coppell Advisory Solutions LLC acquired a new position in shares of TechnipFMC in the second quarter valued at approximately $35,000. Ascentis Independent Advisors acquired a new position in shares of TechnipFMC in the first quarter valued at approximately $37,000. Keating Financial Advisory Services Inc. acquired a new position in shares of TechnipFMC during the second quarter valued at about $37,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of TechnipFMC during the second quarter worth approximately $44,000. 96.58% of the stock is owned by institutional investors.

TechnipFMC Trading Up 3.0%

NYSE:FTI traded up $2.19 during midday trading on Tuesday, hitting $75.06. 1,531,856 shares of the company traded hands, compared to its average volume of 4,042,713. The firm has a market capitalization of $29.43 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.52 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.70. The firm's fifty day moving average is $74.67 and its 200-day moving average is $71.14.

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 for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $0.68 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that TechnipFMC plc will post 3.17 EPS for the current year.

TechnipFMC Announces Dividend

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

Insider Activity at TechnipFMC

In other news, Director Eric Mullins purchased 6,365 shares of the business's stock in a transaction dated Friday, August 14th. The shares were acquired at an average price 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. The trade was a 373.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna dropped their target price 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. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Citigroup increased their price objective on TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen lowered TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC has an average rating of "Moderate Buy" and an average price target of $70.00.

TechnipFMC Company Profile

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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