Cumberland Partners Ltd Takes $951,000 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 purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 30,000 shares of the oil and gas company's stock, valued at approximately $951,000.

Several other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in TechnipFMC in the first quarter worth $33,000. Westpac Banking Corp bought a new stake in TechnipFMC in the fourth quarter worth $55,000. Quarry LP boosted its holdings in TechnipFMC by 95.9% in the fourth quarter. Quarry LP now owns 2,550 shares of the oil and gas company's stock worth $74,000 after acquiring an additional 1,248 shares in the last quarter. GAMMA Investing LLC boosted its holdings in TechnipFMC by 27.0% in the first quarter. GAMMA Investing LLC now owns 2,886 shares of the oil and gas company's stock worth $91,000 after acquiring an additional 614 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in TechnipFMC by 346.7% in the first quarter. Farther Finance Advisors LLC now owns 2,859 shares of the oil and gas company's stock worth $92,000 after acquiring an additional 2,219 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Price Performance

Shares of FTI stock traded down $0.54 during trading hours on Tuesday, reaching $35.15. The company had a trading volume of 213,511 shares, compared to its average volume of 4,485,456. 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 stock has a fifty day moving average of $34.11 and a 200-day moving average of $30.72. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.16 and a beta of 1.04. TechnipFMC plc has a 12-month low of $22.11 and a 12-month high of $38.05.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.11. TechnipFMC had a return on equity of 29.42% and a net margin of 9.60%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The firm's quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC plc will post 1.63 earnings per share for the current 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 issued a $0.05 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. TechnipFMC's dividend payout ratio is currently 9.43%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms have commented on FTI. Barclays boosted their target price on TechnipFMC from $45.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on TechnipFMC from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Wall Street Zen raised TechnipFMC from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Evercore ISI upped their price target on TechnipFMC from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Susquehanna upped their price target on TechnipFMC from $40.00 to $45.00 and gave the company a "positive" rating in a report on Friday, July 25th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.92.

TechnipFMC 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.