Globeflex Capital L P Takes Position in TechnipFMC plc $FTI

Globeflex Capital L P acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, HoldingsChannel reports. The firm acquired 15,245 shares of the oil and gas company’s stock, valued at approximately $1,011,000.

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 shares of TechnipFMC during the first quarter worth about $26,000. Newbridge Financial Services Group Inc. purchased a new position in shares of TechnipFMC during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its stake in shares of TechnipFMC by 45.3% during 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 buying an additional 340 shares during the period. Ascentis Independent Advisors acquired a new stake in TechnipFMC during the first quarter worth approximately $37,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in TechnipFMC in the 2nd quarter worth approximately $37,000. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FTI. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Royal Bank Of Canada lifted their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Evercore reiterated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Finally, Susquehanna decreased their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Transactions at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of the company’s 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 of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $75.90 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm has a market capitalization of $29.76 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.55. The company has a 50 day moving average price of $71.29 and a 200 day moving average price of $69.43.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, beating 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 company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the business earned $0.68 EPS. TechnipFMC’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Announces Dividend

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 issued a $0.05 dividend. The ex-dividend date 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 (DPR) is presently 6.94%.

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.