EP Wealth Advisors LLC Invests $841,000 in TechnipFMC plc $FTI

EP Wealth Advisors LLC bought a new position in TechnipFMC plc (NYSE:FTI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,678 shares of the oil and gas company’s stock, valued at approximately $841,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in TechnipFMC during the 2nd quarter worth about $3,081,514,000. State Street Corp lifted its position in TechnipFMC by 62.2% during the 3rd 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 during the period. Norges Bank acquired a new position in TechnipFMC in the fourth quarter valued at approximately $205,468,000. Invesco Ltd. boosted 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 acquiring an additional 4,437,960 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in TechnipFMC by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Stock Up 0.2%

Shares of FTI stock opened at $77.62 on Monday. The firm has a fifty day moving average of $71.14 and a 200-day moving average of $69.30. The company has a market capitalization 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. 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 plc has a 12-month low of $35.29 and a 12-month high of $80.55.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data 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 return on equity of 36.54% and a net margin of 11.28%.The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. TechnipFMC’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities research analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend 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 currently 6.94%.

Wall Street Analysts Forecast Growth

FTI has been the subject of several recent research reports. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays lifted their price objective on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Citigroup increased their target price on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Susquehanna reduced their target price on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the transaction, the director directly owned 8,070 shares in the company, valued at $633,898.50. This trade represents a 373.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

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.