Cibc World Market Inc. Makes New Investment in TechnipFMC plc $FTI

Cibc World Market Inc. bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, Holdings Channel reports. The fund bought 172,069 shares of the oil and gas company’s stock, valued at approximately $11,408,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FTI. Focus Partners Wealth lifted its holdings in TechnipFMC by 27.2% in the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after acquiring an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in TechnipFMC by 45.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 340 shares during the last quarter. Sivia Capital Partners LLC raised its position in TechnipFMC by 76.1% in the second quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock valued at $508,000 after purchasing an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in TechnipFMC by 132.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares during the period. Finally, Ossiam lifted its stake in shares of TechnipFMC by 52.0% in the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.

TechnipFMC Trading Down 2.0%

Shares of NYSE FTI opened at $75.90 on Tuesday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.55. 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 stock has a fifty day simple moving average of $71.29 and a 200-day simple moving average of $69.43. The stock has a market capitalization of $29.76 billion, a PE ratio of 26.35, a PEG ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) 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 firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the company earned $0.68 EPS. TechnipFMC’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that TechnipFMC plc will post 3.09 earnings per share for the current year.

TechnipFMC Announces Dividend

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 given 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 is currently 6.94%.

Insider Activity

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the completion of the purchase, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent analyst reports. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Citigroup increased their target price 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. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, Evercore reissued an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday, May 1st. One equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.