Caisse de depot et placement du Quebec Makes New $12.09 Million Investment in TechnipFMC plc $FTI

Caisse de depot et placement du Quebec acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 182,385 shares of the oil and gas company’s stock, valued at approximately $12,092,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FTI. Gallagher Fiduciary Advisors LLC bought a new stake in shares of TechnipFMC in the 2nd quarter worth about $415,000. Man Group plc bought a new position in TechnipFMC during the 2nd quarter valued at about $12,626,000. Polar Asset Management Partners Inc. bought a new position in TechnipFMC during the 2nd quarter valued at about $276,000. Miller Value Partners LLC purchased a new stake in TechnipFMC in the 2nd quarter worth about $210,000. Finally, Jupiter Topco LLC purchased a new stake in TechnipFMC in the 2nd quarter worth about $58,647,000. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FTI shares. UBS Group set a $80.00 target price on TechnipFMC in a research report on Wednesday, June 3rd. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Royal Bank Of Canada boosted their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Susquehanna cut their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Trading Down 0.7%

Shares of FTI opened at $75.81 on Friday. The firm has a market capitalization of $29.73 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.56 and a beta of 0.72. 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 1-year low of $35.29 and a 1-year high of $80.55. The company has a 50-day moving average of $72.07 and a 200 day moving average of $69.86.

TechnipFMC (NYSE:FTI) last issued its earnings results 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 business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

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

Insider Buying and Selling

In other news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

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.