Susquehanna Fundamental Investments LLC Buys New Shares in TechnipFMC plc $FTI

Key Points

• Susquehanna Fundamental Investments initiated a TechnipFMC position by purchasing 27,489 shares worth approximately $1.82 million. Institutional investors and hedge funds collectively own 96.58% of the company.
• Analysts maintain a generally bullish outlook, with 13 Buy ratings and three Holds; the consensus rating is “Moderate Buy” with a $69.64 price target, despite individual targets reaching as high as $87.
• TechnipFMC exceeded quarterly expectations, reporting $0.91 in EPS versus $0.80 forecast and $2.76 billion in revenue, up 9% year over year. The company also declared a quarterly dividend of $0.05 per share.

Susquehanna Fundamental Investments 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 27,489 shares of the oil and gas company's stock, valued at approximately $1,823,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of TechnipFMC during the second quarter valued at about $3,081,514,000. State Street Corp grew 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 acquiring an additional 4,938,498 shares during the period. Norges Bank acquired a new stake in TechnipFMC in the fourth quarter valued at approximately $205,468,000. Invesco Ltd. increased its holdings in shares of TechnipFMC by 64.9% during 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 acquiring an additional 4,437,960 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of TechnipFMC by 26.7% during 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 purchasing an additional 3,549,839 shares during the period. 96.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FTI shares. Susquehanna cut their target price on TechnipFMC from $90.00 to $85.00 and set a "positive" rating on the stock in a report on Wednesday, July 8th. Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. UBS Group set a $80.00 price objective on shares of TechnipFMC in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a "buy" rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Citigroup upped their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of "Moderate Buy" and a consensus price target of $69.64.

TechnipFMC Trading Up 0.2%

NYSE FTI opened at $78.32 on Wednesday. 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 business has a fifty day simple moving average of $72.53 and a 200 day simple moving average of $70.17. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.55. The firm has a market capitalization of $30.71 billion, a P/E ratio of 27.19, a PEG ratio of 1.57 and a beta of 0.74.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. On average, analysts predict that TechnipFMC plc will post 3.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC's dividend payout ratio is presently 6.94%.

Insider Buying and Selling

In other news, Director Eric D. Mullins acquired 6,365 shares of the firm's stock in a transaction on Friday, August 14th. The stock was purchased at an average price 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 represents a 373.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company's stock.

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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