EFG International AG Acquires Shares of 11,841 TechnipFMC plc $FTI

EFG International AG acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 11,841 shares of the oil and gas company’s stock, valued at approximately $785,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of TechnipFMC during the second quarter worth approximately $3,081,514,000. State Street Corp grew its position 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 buying an additional 4,938,498 shares during the last quarter. Norges Bank purchased a new position in TechnipFMC in the 4th quarter valued at $205,468,000. Invesco Ltd. grew its position in TechnipFMC by 64.9% in the 4th quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock valued at $502,284,000 after buying an additional 4,437,960 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock valued at $751,567,000 after buying an additional 3,549,839 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $76.54 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’s 50-day moving average price is $71.85 and its 200 day moving average price is $69.82. TechnipFMC plc has a 52 week low of $35.29 and a 52 week high of $80.55. The stock has a market cap of $30.02 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.55 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently disclosed 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. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s payout ratio is currently 6.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FTI shares. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Barclays boosted their price target on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. UBS Group set a $80.00 price target on shares of TechnipFMC in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

Insider Activity

In related news, Director Eric D. Mullins bought 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by corporate 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.