Quantitative Investment Management LLC Takes $3.10 Million Position in TechnipFMC plc $FTI

Quantitative Investment Management LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,844 shares of the oil and gas company’s stock, valued at approximately $3,105,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in TechnipFMC during the 1st quarter valued at $26,000. Ascentis Independent Advisors acquired a new stake in shares of TechnipFMC in the first quarter worth $37,000. Keating Financial Advisory Services Inc. purchased a new position in shares of TechnipFMC during the second quarter valued at $37,000. First Pacific Financial purchased a new stake in TechnipFMC in the 1st quarter worth about $52,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in TechnipFMC during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FTI shares. Citigroup upped their target price on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Susquehanna cut their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Zacks Research lowered shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

Insider Buying and Selling at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Trading Down 0.0%

Shares of NYSE FTI opened at $75.81 on Monday. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.55 and a beta of 0.72. The business has a 50 day simple moving average of $72.07 and a 200 day simple moving average of $69.93. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. On average, research analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm 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 dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is currently 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.