Dockside LLC Invests $6.16 Million in TechnipFMC plc $FTI

Dockside LLC acquired a new stake in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 92,974 shares of the oil and gas company’s stock, valued at approximately $6,164,000. TechnipFMC comprises 1.4% of Dockside LLC’s investment portfolio, making the stock its 6th largest holding.

A number of other large investors have also recently bought and sold shares of FTI. Asset Management One Co. Ltd. bought a new position in shares of TechnipFMC in the 4th quarter valued at approximately $833,000. Fisher Asset Management LLC boosted its position in TechnipFMC by 7.1% during the fourth quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock worth $18,200,000 after purchasing an additional 27,111 shares during the period. BankChampaign National Association bought a new stake in TechnipFMC during the first quarter worth approximately $1,157,000. HighTower Advisors LLC grew its holdings in TechnipFMC by 54.7% during the fourth quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company’s stock valued at $2,087,000 after purchasing an additional 16,562 shares during the last quarter. Finally, Todd Asset Management LLC raised its position in shares of TechnipFMC by 52.2% in the fourth quarter. Todd Asset Management LLC now owns 825,835 shares of the oil and gas company’s stock valued at $36,800,000 after purchasing an additional 283,129 shares during the period. 96.58% of the stock is currently owned by institutional investors.

TechnipFMC Stock Up 2.6%

NYSE FTI opened at $78.63 on Friday. TechnipFMC plc has a twelve month low of $34.27 and a twelve month high of $79.23. The stock has a market cap of $30.84 billion, a PE ratio of 27.30, a PEG ratio of 1.58 and a beta of 0.72. The firm has a 50-day simple moving average of $70.30 and a 200 day simple moving average of $68.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08.

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

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. The ex-dividend date is 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 currently 6.94%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Susquehanna reduced their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Barclays raised 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. Evercore reissued an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Citigroup upped their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC 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.