Integrated Wealth Concepts LLC Acquires 20,406 Shares of TechnipFMC plc $FTI

Integrated Wealth Concepts LLC grew its stake in shares of TechnipFMC plc (NYSE:FTI) by 36.1% during the second quarter, Holdings Channel reports. The institutional investor owned 76,883 shares of the oil and gas company’s stock after purchasing an additional 20,406 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in TechnipFMC were worth $5,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in TechnipFMC by 19,380.5% during the 2nd quarter. California State Teachers Retirement System now owns 91,624,346 shares of the oil and gas company’s stock valued at $6,074,694,000 after acquiring an additional 91,154,007 shares during the period. BlackRock Inc. purchased a new position in TechnipFMC in the 2nd quarter worth approximately $3,081,514,000. State Street Corp lifted its position in TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Norges Bank purchased a new stake in shares of TechnipFMC during the fourth quarter valued at approximately $205,468,000. Finally, Invesco Ltd. grew its holdings in shares of TechnipFMC by 64.9% in the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the last quarter. Institutional investors own 96.58% of the company’s stock.

Insider Buying and Selling

In other news, Director Eric Mullins acquired 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, with a total value of $499,970.75. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

TechnipFMC Stock Up 1.0%

TechnipFMC stock opened at $76.37 on Friday. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.51 and a beta of 0.74. 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 stock has a fifty day simple moving average of $74.55 and a two-hundred day simple moving average of $71.04. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.70.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data 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 net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts predict that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings cut TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. Citigroup upped their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.