Commerce Bank Invests $644,000 in TechnipFMC plc $FTI

Commerce Bank acquired a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,711 shares of the oil and gas company’s stock, valued at approximately $644,000.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of TechnipFMC during the 2nd quarter valued at about $3,081,514,000. State Street Corp grew its stake in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares during the period. Norges Bank bought a new stake in TechnipFMC in the fourth quarter worth approximately $205,468,000. Invesco Ltd. lifted its stake in TechnipFMC by 64.9% in the fourth 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 period. Finally, AQR Capital Management LLC lifted its stake in 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 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 institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eric D. Mullins purchased 6,365 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the transaction, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents a 373.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $75.71 on Thursday. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55. The stock has a market cap of $29.69 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.54 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm’s 50-day simple moving average is $71.62 and its 200 day simple moving average is $69.70.

TechnipFMC (NYSE:FTI) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS. As a group, research analysts anticipate that TechnipFMC plc will post 3.09 earnings per share for the current fiscal 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 issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is 6.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FTI shares. Barclays raised their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Susquehanna dropped 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. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a report on Sunday, May 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.