Global Retirement Partners LLC Invests $2.49 Million in TechnipFMC plc $FTI

Global Retirement Partners LLC bought a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 37,540 shares of the oil and gas company’s stock, valued at approximately $2,489,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FTI. State Street Corp increased its holdings in TechnipFMC by 62.2% in the 3rd 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 in the last quarter. Norges Bank purchased a new position in TechnipFMC in the fourth quarter valued at about $205,468,000. Invesco Ltd. lifted its stake in shares of TechnipFMC by 64.9% during 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 in the last quarter. AQR Capital Management LLC boosted its position in shares of TechnipFMC by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after buying an additional 3,549,839 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of TechnipFMC in the second quarter worth about $173,262,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Trading Up 0.0%

NYSE:FTI opened at $78.63 on Monday. The company has a market cap of $30.84 billion, a PE ratio of 27.30, a P/E/G ratio of 1.62 and a beta of 0.72. The business’s 50 day moving average is $70.30 and its two-hundred day moving average is $68.51. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. TechnipFMC plc has a 52 week low of $34.27 and a 52 week high of $79.23.

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

TechnipFMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTI. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group set a $80.00 price objective on shares of TechnipFMC in a research report on Wednesday, June 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Susquehanna reduced their target price on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Finally, Barclays upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.