Vise Technologies Inc. Purchases New Shares in TechnipFMC plc $FTI

Vise Technologies Inc. acquired a new stake in TechnipFMC plc (NYSE:FTI) in the second quarter, Holdings Channel reports. The institutional investor acquired 32,930 shares of the oil and gas company’s stock, valued at approximately $2,183,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of TechnipFMC during the 2nd quarter valued at about $3,081,514,000. State Street Corp raised its holdings in TechnipFMC by 62.2% in the 3rd quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock worth $508,276,000 after purchasing an additional 4,938,498 shares during the period. Norges Bank purchased a new position in TechnipFMC during the fourth quarter worth approximately $205,468,000. Invesco Ltd. boosted its position in 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 purchasing an additional 4,437,960 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in 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 during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.

Insider Buying and Selling

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

TechnipFMC Stock Performance

Shares of FTI stock opened at $77.62 on Friday. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55. 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 stock’s fifty day moving average is $71.14 and its two-hundred day moving average is $69.21. The firm has a market capitalization of $30.44 billion, a P/E ratio of 26.95, a PEG ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last released its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’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 earned $0.68 earnings per share. Research analysts expect that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. TechnipFMC’s dividend payout ratio is presently 6.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FTI shares. Evercore restated an “outperform” rating and issued a $83.00 price objective 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 report on Wednesday, June 3rd. Barclays upped their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Susquehanna decreased their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Citigroup lifted their target price on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, TechnipFMC has an average 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.