Corient Private Wealth LP purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,739 shares of the oil and gas company's stock, valued at approximately $1,574,000.
A number of other institutional investors also recently modified their holdings of the business. ANB Bank boosted its stake in TechnipFMC by 3.4% in the first quarter. ANB Bank now owns 4,903 shares of the oil and gas company's stock valued at $339,000 after buying an additional 161 shares in the last quarter. PFG Investments LLC raised its stake in TechnipFMC by 2.4% during the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company's stock worth $495,000 after acquiring an additional 165 shares in the last quarter. Independent Advisor Alliance raised its stake in TechnipFMC by 0.3% during the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company's stock worth $2,730,000 after acquiring an additional 184 shares in the last quarter. Evolve Private Wealth LLC lifted its holdings in shares of TechnipFMC by 0.7% in the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company's stock worth $2,411,000 after acquiring an additional 227 shares during the last quarter. Finally, Caerus Investment Advisors LLC lifted its holdings in shares of TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company's stock worth $1,661,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.
Wall Street Analysts Forecast Growth
FTI has been the topic of several research reports. Weiss Ratings lowered shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, August 27th. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Susquehanna cut 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. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Citigroup upped their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $69.64.
View Our Latest Analysis on FTI
TechnipFMC Trading Up 0.3%
FTI opened at $79.91 on Friday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.70. The company has a fifty day moving average of $73.10 and a 200-day moving average of $70.43. The stock has a market cap of $31.34 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.
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 (EPS) for the quarter, beating 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 business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. TechnipFMC's revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts predict that TechnipFMC plc will post 3.17 EPS for the current year.
TechnipFMC Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th were given a dividend of $0.05 per share. 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 is presently 6.94%.
Insider Buying and Selling
In other TechnipFMC news, Director Eric Mullins bought 6,365 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was 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 approximately $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by corporate insiders.
TechnipFMC Company Profile
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Free Report)
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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