OMERS ADMINISTRATION Corp Takes $1.43 Million Position in TechnipFMC plc $FTI

OMERS ADMINISTRATION Corp purchased a new position in TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,564 shares of the oil and gas company’s stock, valued at approximately $1,430,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in TechnipFMC in the 1st quarter valued at about $26,000. Newbridge Financial Services Group Inc. bought a new stake in shares of TechnipFMC during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 340 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of TechnipFMC in the first quarter valued at approximately $37,000. Finally, Keating Financial Advisory Services Inc. bought a new position in TechnipFMC in the second quarter worth approximately $37,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.7%

Shares of NYSE FTI opened at $75.71 on Thursday. The business has a fifty day moving average price of $71.62 and a 200 day moving average price of $69.70. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The stock has a market capitalization of $29.69 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during 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 firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. Equities research analysts expect that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Citigroup boosted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Royal Bank Of Canada upped their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Evercore reiterated an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Buying and Selling

In other news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. The trade was a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

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.