Gallacher Capital Management LLC Invests $604,000 in TechnipFMC plc $FTI

Gallacher Capital Management LLC bought a new stake in TechnipFMC plc (NYSE:FTI) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 8,737 shares of the oil and gas company’s stock, valued at approximately $604,000.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the last quarter. State Street Corp raised its stake in shares of 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 worth $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Invesco Ltd. raised its stake in shares of TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after acquiring an additional 4,437,960 shares during the last quarter. Boston Partners lifted its position in shares of TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of TechnipFMC by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,577,261 shares of the oil and gas company’s stock valued at $337,714,000 after purchasing an additional 193,244 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FTI. Wall Street Zen raised shares of TechnipFMC from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Susquehanna lowered their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. UBS Group set a $80.00 target price on TechnipFMC in a research report on Wednesday, June 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Citigroup raised their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, TechnipFMC has an average rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Trading Down 0.4%

Shares of NYSE FTI opened at $72.01 on Friday. The company’s 50 day simple moving average is $69.22 and its 200 day simple moving average is $65.10. TechnipFMC plc has a fifty-two week low of $31.88 and a fifty-two week high of $77.78. The firm has a market capitalization of $28.71 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts predict that TechnipFMC plc will post 3.01 EPS for the current year.

TechnipFMC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, May 19th. TechnipFMC’s dividend payout ratio (DPR) is currently 7.63%.

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.