Ieq Capital LLC Invests $60.20 Million in TechnipFMC plc $FTI

Ieq Capital LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, HoldingsChannel reports. The firm purchased 907,970 shares of the oil and gas company’s stock, valued at approximately $60,198,000.

Other hedge funds have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC bought a new position in shares of TechnipFMC during the second quarter worth approximately $3,470,000. Chase Investment Counsel Corp bought a new stake in TechnipFMC in the 2nd quarter valued at $12,397,000. Asset Management One Co. Ltd. bought a new stake in TechnipFMC in the 4th quarter valued at $833,000. Oppenheimer Asset Management Inc. acquired a new position in TechnipFMC in the 2nd quarter valued at $8,407,000. Finally, Fisher Asset Management LLC increased its position in TechnipFMC by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock worth $18,200,000 after buying an additional 27,111 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FTI. UBS Group set a $80.00 target price on TechnipFMC in a report on Wednesday, June 3rd. Susquehanna decreased their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Royal Bank Of Canada lifted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.64.

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins purchased 6,365 shares of TechnipFMC stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $77.62 on Friday. The stock has a market capitalization of $30.44 billion, a PE ratio of 26.95, a P/E/G ratio of 1.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The business has a fifty day moving average price of $71.14 and a two-hundred day moving average price of $69.21. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm posted $0.68 EPS. TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

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

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.