Dockside LLC Takes $6.16 Million Position in TechnipFMC plc $FTI

Dockside LLC bought a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, HoldingsChannel.com reports. The fund bought 92,974 shares of the oil and gas company’s stock, valued at approximately $6,164,000. TechnipFMC comprises 1.4% of Dockside LLC’s investment portfolio, making the stock its 6th largest position.

Other hedge funds 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 first quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its holdings in shares of TechnipFMC by 45.3% in the 1st 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 in the last quarter. Ascentis Independent Advisors bought a new position in shares of TechnipFMC during the 1st quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in TechnipFMC in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 2.6%

FTI stock opened at $78.63 on Friday. The business has a fifty day moving average price of $70.30 and a 200 day moving average price of $68.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $79.23. The stock has a market capitalization of $30.84 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts expect that TechnipFMC plc will post 3.06 EPS for the current fiscal year.

TechnipFMC Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings cut TechnipFMC from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, July 31st. Citigroup boosted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Susquehanna lowered their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. 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, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.64.

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.