Quantitative Investment Management LLC Acquires Shares of 46,844 TechnipFMC plc $FTI

Key Points

• Quantitative Investment Management acquired 46,844 TechnipFMC shares in the second quarter, valued at approximately $3.1 million. Institutional investors and hedge funds collectively own 96.58% of the company.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in adjusted earnings per share versus the $0.80 consensus estimate and $2.76 billion in revenue, up 9% year over year.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and three Holds, although the $69.64 average price target is below the stock’s reported $75.81 opening price.

Quantitative Investment Management LLC purchased a new stake in TechnipFMC plc (NYSE:FTI - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund purchased 46,844 shares of the oil and gas company's stock, valued at approximately $3,105,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in TechnipFMC during the 2nd quarter valued at approximately $3,081,514,000. AQR Capital Management LLC increased its position in TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company's stock worth $751,567,000 after buying an additional 3,549,839 shares during the period. State Street Corp lifted its stake in TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company's stock valued at $508,276,000 after buying an additional 4,938,498 shares during the last quarter. Invesco Ltd. lifted its stake in TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company's stock valued at $502,284,000 after buying an additional 4,437,960 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company's stock valued at $389,018,000 after acquiring an additional 192,549 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

TechnipFMC Price Performance

Shares of TechnipFMC stock opened at $75.81 on Monday. TechnipFMC plc has a 52 week low of $35.29 and a 52 week 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. The stock has a market cap of $29.73 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The company's 50-day moving average price is $72.07 and its two-hundred day moving average price is $69.93.

TechnipFMC (NYSE:FTI - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm posted $0.68 EPS. The business's revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business 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 is currently 6.94%.

Insider Activity at TechnipFMC

In related news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares in the company, valued at $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Zacks Research downgraded TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Citigroup boosted their price target on TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Wall Street Zen lowered TechnipFMC from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $69.64.

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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