Plato Investment Management Ltd Acquires Shares of 65,289 TechnipFMC plc $FTI

Key Points

• Plato Investment Management initiated a position in TechnipFMC, purchasing 65,289 shares valued at approximately $4.3 million. Institutional investors collectively own 96.58% of the company.
• TechnipFMC exceeded quarterly expectations, reporting adjusted earnings of $0.91 per share versus the $0.80 consensus estimate, while revenue rose 9% year over year to $2.76 billion.
• The company declared a quarterly dividend of $0.05 per share, equal to a $0.20 annualized payout and a 0.3% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $69.64.

Plato Investment Management Ltd bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 65,289 shares of the oil and gas company's stock, valued at approximately $4,303,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in shares of TechnipFMC during the 1st quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in TechnipFMC in the 1st quarter valued at approximately $37,000. First Pacific Financial bought a new stake in TechnipFMC during the 1st quarter valued at $52,000. Newbridge Financial Services Group Inc. bought a new stake in TechnipFMC during the 3rd quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new stake in shares of TechnipFMC during the first quarter worth $60,000. Institutional investors own 96.58% of the company's stock.

TechnipFMC Trading Up 0.0%

TechnipFMC stock opened at $78.63 on Monday. The stock has a market cap of $30.84 billion, a P/E ratio of 27.30, a PEG ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $79.23. The firm's fifty day moving average price is $70.30 and its 200-day moving average price is $68.51. 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 (NYSE:FTI - Get Free Report) last issued its quarterly earnings data 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. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $0.68 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that TechnipFMC plc will post 3.06 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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 issued a $0.05 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. 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 report on Friday, May 1st. Wall Street Zen downgraded TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group set a $80.00 target price on TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reiterated a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $69.64.

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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