PDT Partners LLC Acquires Shares of 103,212 TechnipFMC plc $FTI

Key Points

• PDT Partners acquired 103,212 TechnipFMC shares during the second quarter, valued at approximately $6.84 million. Institutional investors collectively own 96.58% of the company.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $69.64; several firms have issued buy or outperform ratings.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 EPS and $2.76 billion in revenue, while revenue grew 9% year over year. The company also declared a quarterly dividend of $0.05 per share.

PDT Partners LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 103,212 shares of the oil and gas company's stock, valued at approximately $6,843,000.

A number of other institutional investors have also added to or reduced their stakes in FTI. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the first quarter worth approximately $26,000. Ascentis Independent Advisors purchased a new position in shares of TechnipFMC during the first quarter worth approximately $37,000. Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC during the second quarter worth approximately $37,000. First Pacific Financial bought a new stake in shares of TechnipFMC in the 1st quarter worth approximately $52,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of TechnipFMC in the 3rd quarter valued at $32,000. Institutional investors own 96.58% of the company's stock.

Insider Buying and Selling

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the company's stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. The Goldman Sachs Group reiterated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research note on Sunday, May 31st. Zacks Research cut TechnipFMC from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada raised their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.64.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $75.26 on Wednesday. The firm has a market cap of $29.52 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.55. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The company's fifty day simple moving average is $71.45 and its two-hundred day simple moving average is $69.56.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.11. The firm 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%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. As a group, equities analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued 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 currently 6.94%.

About TechnipFMC

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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