TechnipFMC plc $FTI Shares Newly Acquired by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC acquired 38,849 TechnipFMC shares worth approximately $2.64 million, while institutional investors collectively own 96.58% of the company.
• Analyst sentiment remains positive overall, with an average “Buy” rating and a $74.83 price target, although Barclays and Susquehanna recently trimmed their targets.
• TechnipFMC reported quarterly EPS of $0.91 and revenue of $2.76 billion, beating estimates and representing 9% year-over-year revenue growth; shares recently opened at $69.53.

SteelPeak Wealth LLC purchased a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 38,849 shares of the oil and gas company's stock, valued at approximately $2,639,000.

Other hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of TechnipFMC during the first quarter valued at approximately $26,000. Coppell Advisory Solutions LLC bought a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $35,000. Ascentis Independent Advisors bought a new stake in shares of TechnipFMC during the 1st quarter worth approximately $37,000. Keating Financial Advisory Services Inc. purchased a new position in TechnipFMC during the 2nd quarter valued at $37,000. Finally, Ameritas Advisory Services LLC purchased a new position in TechnipFMC during the 2nd quarter valued at $44,000. 96.58% of the stock is currently owned by institutional investors.

Insider Activity

In other TechnipFMC news, insider Thierry Conti sold 6,000 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $71.85, for a total transaction of $431,100.00. Following the transaction, the insider directly owned 85,813 shares in the company, valued at $6,165,664.05. This represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric D. Mullins bought 6,365 shares of the business's stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on FTI shares. Barclays reduced their target price on TechnipFMC from $87.00 to $86.00 and set an "overweight" rating on the stock in a research note on Thursday. Wall Street Zen lowered shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group assumed coverage on shares of TechnipFMC in a research note on Monday, October 12th. They issued a "buy" rating and a $89.00 price target on the stock. Weiss Ratings upgraded shares of TechnipFMC from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday. Finally, Susquehanna decreased their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $74.83.

TechnipFMC Trading Down 0.2%

FTI opened at $69.53 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average is $73.88 and its two-hundred day moving average is $71.85. The company has a market capitalization of $27.27 billion, a P/E ratio of 24.14, a PEG ratio of 1.12 and a beta of 0.83. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.70.

TechnipFMC (NYSE:FTI - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%. The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.67 billion. During the same period in the prior year, the business earned $0.68 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts forecast that TechnipFMC plc will post 3.20 earnings per share for the current year.

TechnipFMC Dividend Announcement

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

About TechnipFMC

TechnipFMC plc NYSE: FTI is an energy technology and services company that designs, manufactures and delivers equipment and integrated solutions for the exploration, development and production of oil and natural gas resources. The company serves energy operators, engineering and construction firms, and other participants across the global energy industry.

TechnipFMC operates through two principal areas: Subsea and Surface Technologies. Its subsea business provides subsea production systems, subsea services, installation solutions and related technologies used to develop offshore fields.

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