Horizon Investment Services LLC Makes New Investment in TechnipFMC plc $FTI

Key Points

• Horizon Investment Services initiated a TechnipFMC position by purchasing 42,728 shares worth approximately $2.83 million. Institutional investors and hedge funds collectively own 96.58% of the company.
• Analysts maintain a generally positive outlook, with TechnipFMC carrying a consensus “Moderate Buy” rating and an average price target of $69.64, although individual targets range as high as $87.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in EPS versus the $0.80 consensus and $2.76 billion in revenue. The company also declared a quarterly dividend of $0.05 per share.

Horizon Investment Services LLC bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 42,728 shares of the oil and gas company's stock, valued at approximately $2,833,000.

A number of other institutional investors have also recently made changes to their positions in FTI. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company's stock worth $764,000 after purchasing an additional 5,161 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in TechnipFMC by 45.3% in the 1st 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 TechnipFMC by 76.1% in the 2nd 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. boosted its stake in TechnipFMC by 132.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company's stock worth $188,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Ossiam boosted its stake in TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 546 shares during the last quarter. 96.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FTI. Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday. Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Zacks Research downgraded shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Susquehanna decreased their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a research note on Wednesday, July 8th. Finally, UBS Group set a $80.00 target price on TechnipFMC in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of "Moderate Buy" and an average price target of $69.64.

TechnipFMC Stock Performance

NYSE:FTI opened at $78.63 on Monday. The company's 50-day moving average is $70.30 and its two-hundred day moving average is $68.51. TechnipFMC plc has a 1-year low of $34.27 and a 1-year high of $79.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The firm has a market capitalization of $30.84 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 1.62 and a beta of 0.72.

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

TechnipFMC Dividend Announcement

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