Focus Partners Advisor Solutions LLC purchased a new stake in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 52,342 shares of the oil and gas company's stock, valued at approximately $3,470,000.
A number of other large investors have also recently bought and sold shares of the business. State of Wyoming bought a new position in shares of TechnipFMC in the 2nd quarter worth about $700,000. Oppenheimer Asset Management Inc. bought a new stake in shares of TechnipFMC during the 2nd quarter valued at about $8,407,000. Hardy Reed LLC acquired a new stake in TechnipFMC during the second quarter worth approximately $1,315,000. Dockside LLC acquired a new stake in TechnipFMC during the second quarter worth approximately $6,164,000. Finally, Assenagon Asset Management S.A. bought a new stake in TechnipFMC in the second quarter worth approximately $1,327,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on FTI shares. Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Citigroup lifted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, June 18th. Weiss Ratings downgraded shares of TechnipFMC from a "buy (a-)" rating to a "buy (b)" rating in a research report on Friday, July 31st. Finally, Evercore reissued an "outperform" rating and set a $83.00 target price on shares of TechnipFMC in a research note on Friday, May 1st. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.64.
Get Our Latest Stock Report on TechnipFMC
TechnipFMC Stock Up 2.6%
FTI stock opened at $78.63 on Friday. The stock's 50 day simple moving average is $70.30 and its 200 day simple moving average is $68.41. The company has a market cap of $30.84 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. 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 fifty-two week low of $34.27 and a fifty-two week high of $79.23.
TechnipFMC (NYSE:FTI - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. On average, research analysts expect that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.
TechnipFMC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC's payout ratio is 6.94%.
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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