Jupiter Topco LLC Buys New Position in TechnipFMC plc $FTI

Key Points

• Jupiter Topco LLC purchased 884,112 shares of TechnipFMC, valued at approximately $58.6 million, giving it a 0.23% stake. Institutional investors collectively own 96.58% of the company.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in EPS versus an $0.80 estimate and $2.76 billion in revenue, up 9% year over year.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $69.64; shares recently opened at $76.54 near their 52-week high.

Jupiter Topco LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 884,112 shares of the oil and gas company's stock, valued at approximately $58,647,000. Jupiter Topco LLC owned approximately 0.23% of TechnipFMC as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Focus Partners Advisor Solutions LLC purchased a new stake in TechnipFMC during the 2nd quarter worth $3,470,000. Chase Investment Counsel Corp acquired a new position in TechnipFMC in the 2nd quarter worth $12,397,000. Globeflex Capital L P purchased a new position in TechnipFMC in the 2nd quarter valued at about $1,011,000. Oppenheimer Asset Management Inc. purchased a new position in TechnipFMC in the 2nd quarter valued at about $8,407,000. Finally, BankChampaign National Association acquired a new stake in shares of TechnipFMC during the first quarter valued at about $1,157,000. Hedge funds and other institutional investors own 96.58% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen lowered TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Barclays raised their price objective 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 restated a "buy" rating on shares of TechnipFMC in a report on Sunday, May 31st. UBS Group set a $80.00 target price on TechnipFMC in a research report on Wednesday, June 3rd. Finally, 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. 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.64.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $76.54 on Friday. 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 1 year low of $35.29 and a 1 year high of $80.55. The firm's 50-day simple moving average is $71.85 and its 200-day simple moving average is $69.82. The firm has a market cap of $30.02 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 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 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 period last year, the firm earned $0.68 earnings per share. Equities analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

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

Insider Activity at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director owned 8,070 shares of the company's stock, valued at $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company's stock.

TechnipFMC Company 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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