PDT Partners LLC Makes New Investment in TechnipFMC plc $FTI

PDT Partners LLC bought a new position in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 103,212 shares of the oil and gas company’s stock, valued at approximately $6,843,000.

A number of other large investors have also recently modified their holdings of the stock. Focus Partners Wealth increased its position in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 5,161 shares during the period. Geneos Wealth Management Inc. lifted its holdings in 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 worth $35,000 after buying an additional 340 shares during the period. Sivia Capital Partners LLC boosted its position in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after acquiring an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in TechnipFMC by 132.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 3,105 shares in the last quarter. Finally, Ossiam grew its holdings in shares of TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 546 shares during the period. Institutional investors own 96.58% of the company’s stock.

Insider Activity at TechnipFMC

In related news, Director Eric D. Mullins purchased 6,365 shares of TechnipFMC stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FTI. Susquehanna decreased their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. UBS Group set a $80.00 price target on TechnipFMC in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Price Performance

FTI stock opened at $75.26 on Wednesday. The firm has a 50 day moving average price of $71.45 and a 200-day moving average price of $69.56. TechnipFMC plc has a 52-week low of $35.29 and a 52-week high of $80.55. The firm has a market capitalization of $29.52 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.55 and a beta of 0.72. 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 posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts forecast that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

TechnipFMC Company 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.