Cumberland Partners Ltd Takes Position in TechnipFMC plc (NYSE:FTI)

Key Points

• Cumberland Partners Ltd has acquired a new stake in TechnipFMC plc, purchasing 30,000 shares worth approximately $951,000 in the first quarter.
• TechnipFMC reported earnings of $0.68 per share for the last quarter, exceeding analyst expectations of $0.57, and had a revenue of $2.53 billion, which is up 9.0% year-over-year.
• The company announced a quarterly dividend of $0.05 per share, representing an annualized dividend yield of 0.6% and a payout ratio of 9.43%.

Cumberland Partners Ltd bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,000 shares of the oil and gas company's stock, valued at approximately $951,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new stake in shares of TechnipFMC in the 1st quarter valued at about $33,000. Westpac Banking Corp acquired a new stake in shares of TechnipFMC in the 4th quarter valued at about $55,000. Quarry LP grew its stake in shares of TechnipFMC by 95.9% in the 4th quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock valued at $74,000 after buying an additional 1,248 shares during the period. Farther Finance Advisors LLC grew its stake in shares of TechnipFMC by 346.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock valued at $92,000 after buying an additional 2,219 shares during the period. Finally, 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 buying an additional 614 shares during the period. Institutional investors own 96.58% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FTI shares. Sanford C. Bernstein downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Thursday, May 22nd. Evercore ISI raised their target price on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. BTIG Research cut shares of TechnipFMC from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Citigroup reaffirmed a "buy" rating and issued a $41.00 price target (up previously from $35.00) on shares of TechnipFMC in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada raised their price target on shares of TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, TechnipFMC presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.92.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded down $0.31 during mid-day trading on Thursday, hitting $35.26. 269,295 shares of the stock were exchanged, compared to its average volume of 4,457,415. TechnipFMC plc has a 12 month low of $22.11 and a 12 month high of $38.05. The company has a 50-day simple moving average of $34.32 and a 200 day simple moving average of $30.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.10. The company has a market capitalization of $14.49 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.17 and a beta of 1.04.

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

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Tuesday, August 19th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, August 19th. TechnipFMC's payout ratio is currently 9.43%.

Insiders Place Their Bets

In related news, Director Rousset Sophie Zurquiyah sold 9,381 shares of TechnipFMC stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $37.12, for a total value of $348,222.72. Following the completion of the transaction, the director directly owned 62,978 shares in the company, valued at approximately $2,337,743.36. The trade was a 12.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

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.