Sanctuary Advisors LLC Takes Position in TechnipFMC plc $FTI

Key Points

• Sanctuary Advisors LLC initiated a position in TechnipFMC, purchasing 37,873 shares valued at approximately $2.5 million during the second quarter. Institutional investors and hedge funds collectively own 96.58% of the company.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in EPS versus $0.80 expected and revenue of $2.76 billion, up 9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $69.64.
• The company declared a quarterly dividend of $0.05 per share, equivalent to an annualized dividend of $0.20 and a 0.3% yield.

Sanctuary Advisors LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 37,873 shares of the oil and gas company's stock, valued at approximately $2,511,000.

A number of other large investors have also bought and sold shares of FTI. PEAK6 LLC bought a new stake in TechnipFMC in the second quarter valued at $50,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in TechnipFMC during the 2nd quarter worth approximately $680,000. Globeflex Capital L P bought a new position in TechnipFMC in the second quarter worth approximately $1,011,000. Bank of Nova Scotia bought a new position in TechnipFMC in the second quarter worth approximately $35,934,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in TechnipFMC in the second quarter valued at approximately $541,000. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The stock was bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FTI has been the topic of a number of research reports. Evercore reaffirmed an "outperform" rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Zacks Research lowered shares of TechnipFMC from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Susquehanna lowered their price objective 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. Weiss Ratings raised shares of TechnipFMC from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TechnipFMC has a consensus rating of "Moderate Buy" and an average target price of $69.64.

TechnipFMC Stock Performance

NYSE FTI opened at $75.26 on Wednesday. The company has a fifty day moving average price of $71.45 and a 200-day moving average price of $69.56. The firm has a market cap of $29.52 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.55 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1 year low of $35.29 and a 1 year high of $80.55.

TechnipFMC (NYSE:FTI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the firm earned $0.68 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts predict that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a $0.05 dividend. 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 payout ratio is presently 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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