Raiffeisen Bank International AG Takes $2.34 Million Position in TechnipFMC plc $FTI

Key Points

• Raiffeisen Bank International acquired 35,831 TechnipFMC shares worth approximately $2.34 million during the second quarter. Several other institutional investors also initiated positions, and institutions now own 96.58% of FTI’s stock.
• TechnipFMC reported quarterly results above expectations, with earnings of $0.91 per share versus the $0.80 consensus estimate and revenue of $2.76 billion, up 9% year over year.
• FTI shares opened at $79.66, near their 52-week high of $80.70. Analysts maintain a “Moderate Buy” consensus, while the company pays a $0.05 quarterly dividend yielding about 0.3%.

Raiffeisen Bank International AG bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 35,831 shares of the oil and gas company's stock, valued at approximately $2,337,000.

A number of other large investors have also added to or reduced their stakes in FTI. Focus Partners Advisor Solutions LLC acquired a new stake in TechnipFMC during the 2nd quarter worth approximately $3,470,000. Chase Investment Counsel Corp acquired a new position in TechnipFMC in the 2nd quarter valued at $12,397,000. Globeflex Capital L P bought a new position in TechnipFMC during the 2nd quarter worth $1,011,000. Proficio Capital Partners LLC bought a new position in TechnipFMC during the 2nd quarter worth $1,301,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of TechnipFMC during the second quarter worth $8,407,000. Institutional investors own 96.58% of the company's stock.

Insider Activity at TechnipFMC

In related news, Director Eric Mullins purchased 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company's stock.

TechnipFMC Trading Down 0.5%

Shares of FTI stock opened at $79.66 on Friday. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.70. The stock's fifty day moving average price is $73.40 and its two-hundred day moving average price is $70.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The company has a market cap of $31.24 billion, a PE ratio of 27.66, a P/E/G ratio of 1.60 and a beta of 0.74.

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 company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.TechnipFMC's revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 EPS. Equities analysts predict that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC's payout ratio is presently 6.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FTI shares. Citigroup boosted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Barclays lifted their price objective 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. The Goldman Sachs Group reissued a "buy" rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Susquehanna lowered 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. Finally, Wall Street Zen downgraded shares of TechnipFMC from a "buy" rating to a "hold" rating in a research 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.64.

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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