Glenorchy Capital Ltd Acquires Shares of 127,036 TechnipFMC plc (NYSE:FTI)

Glenorchy Capital Ltd purchased a new position in shares of TechnipFMC plc (NYSE:FTI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 127,036 shares of the oil and gas company’s stock, valued at approximately $2,559,000. TechnipFMC comprises 1.0% of Glenorchy Capital Ltd’s investment portfolio, making the stock its 14th biggest holding.

Other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust purchased a new stake in shares of TechnipFMC during the third quarter worth approximately $29,000. Systematic Alpha Investments LLC purchased a new stake in shares of TechnipFMC during the third quarter worth approximately $146,000. Ballentine Partners LLC purchased a new stake in shares of TechnipFMC during the third quarter worth approximately $203,000. International Assets Investment Management LLC purchased a new stake in shares of TechnipFMC during the fourth quarter worth approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TechnipFMC during the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Carvalho Filho Eleazar De sold 12,491 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $21.20, for a total transaction of $264,809.20. Following the transaction, the director now directly owns 103,982 shares in the company, valued at $2,204,418.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FTI. StockNews.com cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America upped their price objective on TechnipFMC from $24.00 to $28.50 and gave the stock a “buy” rating in a report on Monday, April 15th. HSBC lowered TechnipFMC from a “buy” rating to a “hold” rating and set a $23.60 price objective on the stock. in a report on Friday, February 23rd. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $25.00) on shares of TechnipFMC in a report on Monday, April 1st. Finally, Susquehanna reaffirmed a “positive” rating and set a $27.00 price objective on shares of TechnipFMC in a report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus target price of $25.34.

TechnipFMC Price Performance

Shares of FTI traded up $0.44 during trading hours on Tuesday, reaching $25.82. 2,581,897 shares of the company traded hands, compared to its average volume of 4,687,316. The company has a quick ratio of 0.92, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $11.28 billion, a PE ratio of 215.14 and a beta of 1.65. TechnipFMC plc has a fifty-two week low of $12.64 and a fifty-two week high of $27.26. The stock has a fifty day simple moving average of $23.80 and a 200 day simple moving average of $21.43.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.90 billion. TechnipFMC had a return on equity of 6.37% and a net margin of 0.72%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) earnings per share. As a group, research analysts predict that TechnipFMC plc will post 1.15 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Tuesday, May 21st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.20 annualized dividend and a yield of 0.77%. TechnipFMC’s dividend payout ratio (DPR) is presently 166.68%.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.