Cibc World Market Inc. Makes New Investment in TechnipFMC plc $FTI

Key Points

• Cibc World Market Inc. acquired 172,069 shares of TechnipFMC in the second quarter, valued at approximately $11.4 million. Institutional investors and hedge funds collectively own 96.58% of the company.
• TechnipFMC reported quarterly EPS of $0.91, beating estimates of $0.80, while revenue rose 9% year over year to $2.76 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $69.64.
• Director Eric D. Mullins purchased nearly $500,000 worth of TechnipFMC shares, increasing his ownership by 373%. The company also declared a quarterly dividend of $0.05 per share, equivalent to a 0.3% annual yield.

Cibc World Market Inc. acquired a new position in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 172,069 shares of the oil and gas company's stock, valued at approximately $11,408,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FTI. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the first quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in TechnipFMC during the 1st quarter worth approximately $37,000. Keating Financial Advisory Services Inc. purchased a new position in TechnipFMC during the 2nd quarter worth approximately $37,000. First Pacific Financial acquired a new stake in TechnipFMC during the 1st quarter valued at approximately $52,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Transactions at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the company's stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Susquehanna cut their price target on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, TechnipFMC presently has an average rating of "Moderate Buy" and a consensus target price of $69.64.

TechnipFMC Price Performance

NYSE:FTI opened at $75.90 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. The company has a 50 day moving average price of $71.29 and a 200-day moving average price of $69.43. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55.

TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The firm'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 $0.68 earnings per share. Equities research analysts forecast that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

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

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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