Curated Wealth Partners LLC Buys 20,200 Shares of TechnipFMC plc $FTI

Key Points

• Curated Wealth Partners initiated a TechnipFMC position by purchasing 20,200 shares worth approximately $1.37 million. Institutional investors and hedge funds collectively own 96.58% of the company.
• TechnipFMC reported quarterly earnings of $0.91 per share, exceeding estimates of $0.80, while revenue rose 9% year over year to $2.76 billion. The company also maintains a quarterly dividend of $0.05 per share.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $74.83, although the stock recently traded down to $67.85.

Curated Wealth Partners LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,200 shares of the oil and gas company's stock, valued at approximately $1,372,000.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in TechnipFMC in the first quarter worth about $26,000. Coppell Advisory Solutions LLC acquired a new position in shares of TechnipFMC during the second quarter valued at about $35,000. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC in the 1st quarter valued at approximately $37,000. Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of TechnipFMC in the 2nd quarter valued at approximately $44,000. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of TechnipFMC stock traded down $1.65 during trading on Thursday, hitting $67.85. 747,290 shares of the company's stock were exchanged, compared to its average volume of 3,908,761. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.70. The business has a 50-day simple moving average of $73.91 and a 200-day simple moving average of $71.86. The stock has a market capitalization of $26.61 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.13 and a beta of 0.83.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share 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 firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts forecast that TechnipFMC plc will post 3.20 EPS for the current year.

TechnipFMC Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on FTI. Zacks Research upgraded shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Susquehanna reduced their target price on TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a research note on Wednesday, July 8th. Barclays lowered their price target on TechnipFMC from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Thursday. Citigroup boosted their price target on TechnipFMC from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings lowered TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $74.83.

Insider Activity

In other TechnipFMC news, Director Eric Mullins bought 6,365 shares of the company's stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thierry Conti sold 6,000 shares of TechnipFMC stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total value of $431,100.00. Following the completion of the transaction, the insider owned 85,813 shares of the company's stock, valued at approximately $6,165,664.05. This represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.40% of the company's stock.

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology company that provides products, systems and services for the development and production of oil and natural gas resources. Its operations are organized primarily across Subsea and Surface Technologies, serving offshore and onshore energy projects throughout the world.

The company's Subsea business designs and supplies integrated solutions for offshore field development, including subsea production systems, subsea controls, flexible pipe, umbilicals, installation services and lifecycle support.

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