L2 Asset Management LLC Takes Position in TechnipFMC plc $FTI

L2 Asset Management LLC bought a new stake in shares of TechnipFMC plc (NYSE:FTI) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 13,512 shares of the oil and gas company’s stock, valued at approximately $896,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FTI. Cibc World Market Inc. bought a new position in TechnipFMC during the 2nd quarter valued at $11,408,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of TechnipFMC during the second quarter valued at approximately $1,430,000. Osmosis Investment Management UK Ltd bought a new stake in TechnipFMC during the second quarter worth $454,000. Sanctuary Advisors LLC purchased a new position in TechnipFMC in the second quarter worth $2,511,000. Finally, PEAK6 LLC purchased a new position in TechnipFMC in the second quarter worth $50,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eric D. Mullins bought 6,365 shares of the business’s stock in a transaction on 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 directly owned 8,070 shares in the company, valued at $633,898.50. This represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

FTI has been the topic of a number of recent analyst reports. Zacks Research cut TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada increased their price objective on TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Weiss Ratings upgraded TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Susquehanna dropped their price target on TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. One 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, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

TechnipFMC Stock Performance

NYSE FTI opened at $75.90 on Tuesday. The stock has a market capitalization of $29.76 billion, a PE ratio of 26.35, a P/E/G ratio of 1.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The company’s 50 day simple moving average is $71.29 and its two-hundred day simple moving average is $69.43. TechnipFMC plc has a 1 year low of $35.29 and a 1 year 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, beating 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 company posted $0.68 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be issued a dividend of $0.05 per share. 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 currently 6.94%.

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.