Proficio Capital Partners LLC purchased a new position in TechnipFMC plc (NYSE:FTI – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,625 shares of the oil and gas company’s stock, valued at approximately $1,301,000.
Other large investors have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC bought a new stake in shares of TechnipFMC in the 2nd quarter worth approximately $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC in the second quarter worth $12,397,000. Globeflex Capital L P purchased a new stake in TechnipFMC in the second quarter worth $1,011,000. Oppenheimer Asset Management Inc. bought a new stake in shares of TechnipFMC in the second quarter valued at $8,407,000. Finally, BankChampaign National Association purchased a new position in shares of TechnipFMC during the 1st quarter valued at $1,157,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.
Insider Activity
In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the transaction, the director owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This represents a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on TechnipFMC
TechnipFMC Price Performance
Shares of NYSE:FTI opened at $78.32 on Wednesday. The company has a 50 day moving average of $72.53 and a 200 day moving average of $70.17. The stock has a market cap of $30.71 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.57 and a beta of 0.74. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.55. 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 (NYSE:FTI – Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm posted $0.68 EPS. TechnipFMC’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that TechnipFMC plc will post 3.15 EPS for the current fiscal year.
TechnipFMC Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 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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