Hardy Reed LLC Invests $1.31 Million in TechnipFMC plc $FTI

Hardy Reed LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,831 shares of the oil and gas company’s stock, valued at approximately $1,315,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dockside LLC acquired a new position in shares of TechnipFMC during the 2nd quarter worth about $6,164,000. Assenagon Asset Management S.A. acquired a new stake in shares of TechnipFMC in the second quarter valued at about $1,327,000. GAMMA Investing LLC raised its holdings in TechnipFMC by 11.0% during the second quarter. GAMMA Investing LLC now owns 10,016 shares of the oil and gas company’s stock worth $664,000 after acquiring an additional 994 shares in the last quarter. CoreCap Advisors LLC boosted its position in TechnipFMC by 88.3% during the second quarter. CoreCap Advisors LLC now owns 7,217 shares of the oil and gas company’s stock valued at $478,000 after purchasing an additional 3,384 shares during the last quarter. Finally, PVG Asset Management Corp grew its stake in TechnipFMC by 533.8% in the first quarter. PVG Asset Management Corp now owns 38,069 shares of the oil and gas company’s stock valued at $2,608,000 after purchasing an additional 32,063 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $78.63 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 company has a market capitalization of $30.84 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a 12 month low of $34.27 and a 12 month high of $79.23. The stock has a 50 day moving average of $70.30 and a 200-day moving average of $68.41.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm 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 quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, equities research analysts predict that TechnipFMC plc will post 3.06 EPS for the current 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 paid a $0.05 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 6.94%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FTI shares. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Barclays increased their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

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.