Tucker Asset Management LLC Buys New Position in TechnipFMC plc $FTI

Tucker Asset Management LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,574 shares of the oil and gas company’s stock, valued at approximately $436,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Amundi lifted its stake in shares of TechnipFMC by 72.6% in the 2nd quarter. Amundi now owns 4,358,115 shares of the oil and gas company’s stock worth $288,943,000 after acquiring an additional 1,832,581 shares during the period. HighTower Advisors LLC increased its stake in shares of TechnipFMC by 14.0% during the second quarter. HighTower Advisors LLC now owns 90,950 shares of the oil and gas company’s stock valued at $6,030,000 after acquiring an additional 11,163 shares during the period. California State Teachers Retirement System raised its holdings in TechnipFMC by 19,380.5% during the second quarter. California State Teachers Retirement System now owns 91,624,346 shares of the oil and gas company’s stock worth $6,074,694,000 after purchasing an additional 91,154,007 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in TechnipFMC during the second quarter worth approximately $44,000. Finally, Wedmont Private Capital lifted its position in TechnipFMC by 9.5% in the second quarter. Wedmont Private Capital now owns 4,418 shares of the oil and gas company’s stock worth $317,000 after purchasing an additional 382 shares during the period. 96.58% of the stock is currently owned by institutional investors.

Insider Activity at TechnipFMC

In related news, Director Eric Mullins purchased 6,365 shares of the company’s 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 of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

TechnipFMC Trading Down 0.2%

Shares of NYSE:FTI opened at $79.66 on Monday. 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 stock has a market capitalization of $31.24 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.59 and a beta of 0.74. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.70. The company has a 50 day moving average price of $73.40 and a 200 day moving average price of $70.56.

TechnipFMC (NYSE:FTI) last posted 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 company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, research analysts anticipate that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was 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 6.94%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. Susquehanna cut their price objective on TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, TechnipFMC currently has an average rating of “Moderate Buy” and an average price target of $69.64.

About TechnipFMC

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.