Corient Private Wealth LP Acquires 64,945 Shares of TechnipFMC plc $FTI

Key Points

• Corient Private Wealth LP increased its TechnipFMC stake by 456.8% in the second quarter, adding 64,945 shares for a total of 79,162 shares valued at approximately $5.25 million. Institutional investors collectively own 96.58% of the company.
• Analysts remain broadly positive on TechnipFMC, with one Strong Buy, twelve Buy, and three Hold ratings. The stock has a consensus rating of Moderate Buy and an average price target of $70.00.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in earnings per share and $2.76 billion in revenue, with revenue up 9% year over year. The company also maintains a $0.05 quarterly dividend, equivalent to a 0.3% yield.

Corient Private Wealth LP grew its holdings in TechnipFMC plc (NYSE:FTI - Free Report) by 456.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,162 shares of the oil and gas company's stock after buying an additional 64,945 shares during the period. Corient Private Wealth LP's holdings in TechnipFMC were worth $5,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Tucker Asset Management LLC purchased a new stake in TechnipFMC during the second quarter valued at approximately $436,000. Amundi boosted its holdings in shares of TechnipFMC by 72.6% in the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock worth $288,943,000 after purchasing an additional 1,832,581 shares during the period. HighTower Advisors LLC increased its position in shares of TechnipFMC by 14.0% during the 2nd quarter. HighTower Advisors LLC now owns 90,950 shares of the oil and gas company's stock valued at $6,030,000 after purchasing an additional 11,163 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in TechnipFMC during the 2nd quarter valued at $44,000. Finally, Wedmont Private Capital lifted its position in TechnipFMC by 9.5% in the second quarter. Wedmont Private Capital now owns 4,418 shares of the oil and gas company's stock worth $317,000 after buying an additional 382 shares during the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FTI shares. UBS Group set a $80.00 target price on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings upgraded TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a report on Thursday, September 10th. The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average target price of $70.00.

TechnipFMC Stock Performance

FTI opened at $71.96 on Friday. The firm has a fifty day moving average price of $74.89 and a 200 day moving average price of $71.29. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.70. The stock has a market cap of $28.22 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company's revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that TechnipFMC plc will post 3.17 earnings per share for the current year.

TechnipFMC Announces Dividend

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

Insider Activity at TechnipFMC

In other news, Director Eric Mullins purchased 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost 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 approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.40% of the stock is owned by corporate insiders.

TechnipFMC 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.