Fig Financial Advisory Services Inc. ADV Purchases New Holdings in TechnipFMC plc $FTI

Key Points

• Fig Financial Advisory Services acquired 19,470 TechnipFMC shares in the third quarter, valued at approximately $1.32 million. Institutional investors and hedge funds collectively own 96.58% of the company.
• TechnipFMC reported quarterly earnings of $0.91 per share, beating estimates of $0.80, while revenue rose 9% year over year to $2.76 billion. The company also pays a quarterly dividend of $0.05, yielding approximately 0.3% annually.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $72.08. Shares opened at $68.36, down 2.2%, with a 12-month range of $35.29 to $80.70.

Fig Financial Advisory Services Inc. ADV acquired a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,470 shares of the oil and gas company's stock, valued at approximately $1,322,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter worth approximately $3,081,514,000. Amundi grew its position in shares of TechnipFMC by 72.6% in the second quarter. Amundi now owns 4,358,115 shares of the oil and gas company's stock valued at $288,943,000 after purchasing an additional 1,832,581 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of TechnipFMC in the second quarter valued at approximately $226,069,000. Bank of New York Mellon Corp increased its holdings in shares of TechnipFMC by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 2,878,798 shares of the oil and gas company's stock valued at $199,011,000 after purchasing an additional 194,799 shares during the last quarter. Finally, Danske Bank A S purchased a new position in TechnipFMC during the second quarter worth approximately $163,822,000. Institutional investors and hedge funds own 96.58% of the company's stock.

Insider Buying and Selling

In related news, insider Thierry Conti sold 6,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction 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 trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Mullins bought 6,365 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. The trade was a 373.31% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.40% of the company's stock.

TechnipFMC Stock Down 2.2%

Shares of NYSE:FTI opened at $68.36 on Thursday. The business has a 50-day moving average price of $73.92 and a 200 day moving average price of $71.83. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $26.81 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.12 and a beta of 0.83. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.70.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. TechnipFMC's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Sell-side analysts expect that TechnipFMC plc will post 3.2 EPS for the current year.

TechnipFMC Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on FTI shares. Citigroup boosted their price objective on TechnipFMC from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, September 15th. Weiss Ratings cut shares of TechnipFMC from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, October 2nd. Susquehanna dropped their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Zacks Research raised shares of TechnipFMC from a "hold" rating to a "strong-buy" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $72.08.

TechnipFMC Company Profile

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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