Jupiter Topco LLC Invests $58.65 Million in TechnipFMC plc $FTI

Jupiter Topco LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, HoldingsChannel reports. The fund acquired 884,112 shares of the oil and gas company’s stock, valued at approximately $58,647,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ADAR1 Capital Management LLC bought a new position in TechnipFMC in the second quarter worth about $195,000. Hsbc Holdings PLC acquired a new position in TechnipFMC in the second quarter valued at approximately $85,819,000. EFG International AG bought a new position in shares of TechnipFMC during the second quarter valued at approximately $785,000. Primecap Management Co. CA bought a new position in shares of TechnipFMC during the second quarter valued at approximately $90,159,000. Finally, PDT Partners LLC acquired a new stake in shares of TechnipFMC during the 2nd quarter worth approximately $6,843,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FTI shares. Citigroup boosted their price objective on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Zacks Research lowered TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Susquehanna cut their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, TechnipFMC presently has an average rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

FTI opened at $76.54 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $71.85 and its 200-day moving average is $69.82. The stock has a market cap of $30.02 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55.

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

TechnipFMC Announces Dividend

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