Ieq Capital LLC Acquires New Holdings in TechnipFMC plc $FTI

Ieq Capital LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 907,970 shares of the oil and gas company’s stock, valued at approximately $60,198,000. Ieq Capital LLC owned approximately 0.23% of TechnipFMC as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in TechnipFMC during the 2nd quarter worth about $3,081,514,000. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 3,549,839 shares in the last quarter. State Street Corp lifted its holdings in shares of TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares in the last quarter. Invesco Ltd. boosted its position in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after buying an additional 4,437,960 shares during the period. Finally, Boston Partners grew its holdings in shares of TechnipFMC by 2.0% during the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after buying an additional 192,549 shares in the last quarter. Institutional investors own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FTI shares. Susquehanna dropped their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Citigroup raised their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. Barclays increased their target price on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TechnipFMC presently has an average rating of “Moderate Buy” and an average target price of $69.64.

TechnipFMC Price Performance

FTI stock opened at $77.62 on Friday. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 1.58 and a beta of 0.72. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55. The business has a 50 day moving average price of $71.14 and a two-hundred day moving average price of $69.21. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

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

Insider Buying and Selling at TechnipFMC

In other news, Director Eric D. Mullins acquired 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by corporate insiders.

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.