Canada Pension Plan Investment Board Takes Position in TechnipFMC plc $FTI

Key Points

• Canada Pension Plan Investment Board acquired 167,700 TechnipFMC shares worth approximately $11.1 million during the second quarter. Institutional investors now own 96.58% of the company.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 EPS versus the $0.80 consensus and $2.76 billion in revenue, up 9% year over year.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating. The company also declared a quarterly dividend of $0.05 per share, for a 0.3% annualized yield.

Canada Pension Plan Investment Board acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 167,700 shares of the oil and gas company's stock, valued at approximately $11,119,000.

Other institutional investors have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC bought a new stake in TechnipFMC in the 2nd quarter worth approximately $3,470,000. Chase Investment Counsel Corp bought a new position in TechnipFMC during the second quarter valued at approximately $12,397,000. Globeflex Capital L P purchased a new position in shares of TechnipFMC during the second quarter worth approximately $1,011,000. Oppenheimer Asset Management Inc. purchased a new position in shares of TechnipFMC during the second quarter worth approximately $8,407,000. Finally, BankChampaign National Association bought a new stake in shares of TechnipFMC in the 1st quarter worth approximately $1,157,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $75.81 on Friday. The company has a market capitalization of $29.73 billion, a P/E ratio of 26.32, a PEG ratio of 1.55 and a beta of 0.72. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The stock has a 50 day moving average price of $72.07 and a two-hundred day moving average price of $69.86.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.67 billion. During the same quarter last year, the business earned $0.68 earnings per share. The business's revenue was up 9.0% on a year-over-year basis. Analysts expect that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC's dividend payout ratio (DPR) is 6.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTI. The Goldman Sachs Group reaffirmed a "buy" rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Susquehanna decreased their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Barclays raised their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.64.

Insider Transactions at TechnipFMC

In other news, Director Eric D. Mullins acquired 6,365 shares of the firm's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director owned 8,070 shares of the company's stock, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

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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