TechnipFMC plc (NYSE:FTI) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in TechnipFMC plc by 35.7%, acquiring an additional 9,762 shares, bringing its total holdings to 37,090 shares valued at approximately $1,175,000.
• Several institutional investors have also raised their positions in TechnipFMC, with a combined ownership of 96.58% in the company.
• TechnipFMC reported $0.68 EPS for the latest quarter, surpassing expectations and marking a 9.0% increase in revenue compared to the previous year.

Cetera Investment Advisers increased its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 35.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,090 shares of the oil and gas company's stock after buying an additional 9,762 shares during the quarter. Cetera Investment Advisers' holdings in TechnipFMC were worth $1,175,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC grew its stake in shares of TechnipFMC by 5.1% in 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 during the last quarter. Acuitas Investments LLC grew its stake 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 valued at $108,000 after purchasing an additional 400 shares during the last quarter. KBC Group NV grew its stake in shares of TechnipFMC by 2.4% in the 1st quarter. KBC Group NV now owns 18,129 shares of the oil and gas company's stock valued at $575,000 after purchasing an additional 429 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock valued at $91,000 after purchasing an additional 614 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of TechnipFMC by 7.7% in the first quarter. Baker Tilly Wealth Management LLC now owns 9,238 shares of the oil and gas company's stock valued at $293,000 after buying an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company's stock.

TechnipFMC Trading Down 1.7%

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

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

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Tuesday, August 19th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 annualized dividend 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 company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $37.12, for a total transaction of $348,222.72. Following the completion of the sale, the director directly owned 62,978 shares in the company, valued at $2,337,743.36. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FTI shares. Royal Bank Of Canada lifted their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Susquehanna lifted their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Friday, July 25th. Evercore ISI lifted their price target on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Barclays lifted their price target on TechnipFMC from $45.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, Citigroup restated a "buy" rating and issued a $41.00 price target (up from $35.00) on shares of TechnipFMC in a research note on Thursday, July 10th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, TechnipFMC currently has an average rating of "Moderate Buy" and an average price target 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.