Global Retirement Partners LLC Buys Shares of 37,540 TechnipFMC plc $FTI

Key Points

• Global Retirement Partners purchased 37,540 shares of TechnipFMC worth approximately $2.49 million, while institutional investors collectively own 96.58% of the company.
• TechnipFMC reported quarterly earnings of $0.91 per share, exceeding estimates by $0.11, while revenue rose 9% year over year to $2.76 billion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $69.64 price target; the company also declared a quarterly dividend of $0.05 per share.

Global Retirement Partners LLC purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,540 shares of the oil and gas company's stock, valued at approximately $2,489,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Focus Partners Wealth increased its holdings in TechnipFMC by 27.2% during the 1st quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock valued at $764,000 after acquiring an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock valued at $508,000 after purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock valued at $188,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Ossiam grew its position in shares of TechnipFMC by 52.0% in the second quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 546 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company's stock.

Analysts Set New Price Targets

FTI has been the subject of several research reports. Susquehanna cut their price objective on TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. Weiss Ratings raised TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research report on Thursday. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Finally, Wall Street Zen cut TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Stock Up 0.0%

Shares of FTI opened at $78.63 on Monday. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $79.23. The company's fifty day moving average is $70.30 and its two-hundred day moving average is $68.51. The firm has a market cap of $30.84 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the company posted $0.68 EPS. The business's quarterly revenue was up 9.0% on a year-over-year basis. Analysts forecast that TechnipFMC plc will post 3.06 earnings per share for the current year.

TechnipFMC Announces Dividend

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

TechnipFMC Profile

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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