182,385 Shares in TechnipFMC plc $FTI Bought by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 182,385 shares of the oil and gas company’s stock, valued at approximately $12,092,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of TechnipFMC in the 1st quarter worth approximately $26,000. Ascentis Independent Advisors bought a new stake in TechnipFMC during the first quarter valued at approximately $37,000. Keating Financial Advisory Services Inc. bought a new stake in TechnipFMC during the second quarter valued at approximately $37,000. First Pacific Financial purchased a new stake in TechnipFMC during the first quarter valued at approximately $52,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in TechnipFMC during the third quarter valued at approximately $32,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FTI. Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Citigroup boosted their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. UBS Group set a $80.00 price target on TechnipFMC in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Price Performance

NYSE:FTI opened at $75.81 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 has a market capitalization of $29.73 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.56 and a beta of 0.72. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.55. The business’s 50-day moving average is $72.07 and its 200 day moving average is $69.86.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 for 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. TechnipFMC’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The firm 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 $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s dividend payout ratio (DPR) is presently 6.94%.

Insider Buying and Selling

In related news, Director Eric D. Mullins acquired 6,365 shares of TechnipFMC stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. The trade was a 373.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.