Plato Investment Management Ltd Makes New Investment in TechnipFMC plc $FTI

Plato Investment Management Ltd purchased a new position in TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,289 shares of the oil and gas company’s stock, valued at approximately $4,303,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC purchased a new stake in TechnipFMC during the second quarter valued at about $3,470,000. Asset Management One Co. Ltd. purchased a new position in shares of TechnipFMC during the 4th quarter valued at about $833,000. Fisher Asset Management LLC lifted its position in TechnipFMC by 7.1% in the 4th quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock worth $18,200,000 after buying an additional 27,111 shares during the last quarter. BankChampaign National Association purchased a new stake in TechnipFMC in the first quarter worth approximately $1,157,000. Finally, HighTower Advisors LLC grew its position in TechnipFMC by 54.7% during the fourth quarter. HighTower Advisors LLC now owns 46,832 shares of the oil and gas company’s stock valued at $2,087,000 after acquiring an additional 16,562 shares during the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $78.63 on Monday. The firm has a market cap of $30.84 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. TechnipFMC plc has a fifty-two week low of $34.27 and a fifty-two week high of $79.23. 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 business has a 50 day moving average price of $70.30 and a 200-day moving average price of $68.51.

TechnipFMC (NYSE:FTI) last issued 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 net margin of 11.28% and a return on equity of 36.54%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the business earned $0.68 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that TechnipFMC plc will post 3.06 earnings per share for the current year.

TechnipFMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is 6.94%.

Wall Street Analyst Weigh In

FTI has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Evercore reiterated an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. UBS Group set a $80.00 price target on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday. Finally, Wall Street Zen cut TechnipFMC from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Company 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.