Public Employees Retirement System of Ohio Takes $8.51 Million Position in TechnipFMC plc $FTI

Key Points

• Public Employees Retirement System of Ohio initiated an $8.51 million position in TechnipFMC during the second quarter by purchasing 128,414 shares. Institutional investors and hedge funds 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 expect full-year earnings of approximately $3.09 per share.
• The stock has a “Moderate Buy” consensus rating, with 13 analysts issuing Buy ratings and three recommending Hold. TechnipFMC also declared a quarterly dividend of $0.05 per share and recently received a significant share purchase from director Eric D. Mullins.

Public Employees Retirement System of Ohio bought a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 128,414 shares of the oil and gas company's stock, valued at approximately $8,514,000.

A number of other large investors also recently added to or reduced their stakes in the company. 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 acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. boosted its holdings in 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 during the period. Sivia Capital Partners LLC grew its stake in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company's stock worth $508,000 after purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew 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 in the last quarter. Finally, Ossiam increased its holdings 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 period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

NYSE FTI opened at $78.27 on Tuesday. The stock has a market capitalization of $30.69 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.55 and a beta of 0.72. The business's 50 day moving average is $72.29 and its two-hundred day moving average is $70.06. TechnipFMC plc has a 12-month low of $35.29 and a 12-month high of $80.55. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The business 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 business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 EPS. Research analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

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

Analyst Ratings Changes

FTI has been the subject of a number of analyst reports. Citigroup boosted their price objective on TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Susquehanna reduced their target price on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Barclays lifted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.64.

Insider Activity at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

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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