Strategic Global Advisors LLC acquired a new position in TechnipFMC plc (NYSE:FTI – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor acquired 79,304 shares of the oil and gas company’s stock, valued at approximately $5,258,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. ANB Bank lifted its position in shares of TechnipFMC by 3.4% in the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock worth $339,000 after buying an additional 161 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of TechnipFMC by 2.4% in the 1st quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock valued at $495,000 after buying an additional 165 shares during the period. Independent Advisor Alliance grew its position in shares of TechnipFMC by 0.3% during the 4th quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock valued at $2,730,000 after buying an additional 184 shares during the last quarter. Evolve Private Wealth LLC raised its stake in TechnipFMC by 0.7% during the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 227 shares during the period. Finally, Caerus Investment Advisors LLC lifted its holdings in TechnipFMC by 1.1% in the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on FTI shares. Royal Bank Of Canada raised their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Susquehanna reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.64.
Insider Activity
In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.
TechnipFMC Stock Performance
FTI opened at $75.71 on Thursday. The business’s 50 day moving average is $71.62 and its 200-day moving average is $69.70. The stock has a market cap of $29.69 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55.
TechnipFMC (NYSE:FTI – Get Free Report) last issued 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. 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 analyst estimates of $2.67 billion. During the same period in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current year.
TechnipFMC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is 6.94%.
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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