Great Lakes Advisors LLC Makes New $902,000 Investment in TechnipFMC plc $FTI

Great Lakes Advisors LLC bought a new position in TechnipFMC plc (NYSE:FTI) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 13,608 shares of the oil and gas company’s stock, valued at approximately $902,000.

A number of other institutional investors have also added to or reduced their stakes in FTI. Focus Partners Advisor Solutions LLC purchased a new position in TechnipFMC during the 2nd quarter valued at about $3,470,000. Chase Investment Counsel Corp purchased a new stake in TechnipFMC in the second quarter worth about $12,397,000. Oppenheimer Asset Management Inc. purchased a new stake in TechnipFMC in the second quarter worth about $8,407,000. Fisher Asset Management LLC increased its stake in shares of TechnipFMC by 7.1% during the fourth quarter. Fisher Asset Management LLC now owns 408,437 shares of the oil and gas company’s stock valued at $18,200,000 after purchasing an additional 27,111 shares in the last quarter. Finally, BankChampaign National Association purchased a new position in shares of TechnipFMC during the first quarter valued at approximately $1,157,000. Institutional investors own 96.58% of the company’s stock.

Insider Activity

In related news, Director Eric D. Mullins purchased 6,365 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $78.55 per share, with a total value of $499,970.75. Following the acquisition, the director directly owned 8,070 shares in the company, valued at $633,898.50. The trade was a 373.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.

TechnipFMC Price Performance

TechnipFMC stock opened at $77.62 on Friday. TechnipFMC plc has a 12 month low of $35.29 and a 12 month high of $80.55. The stock has a fifty day simple moving average of $71.14 and a two-hundred day simple moving average of $69.21. 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 firm has a market cap of $30.44 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.58 and a beta of 0.72.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.67 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts predict that TechnipFMC plc will post 3.09 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.3%. TechnipFMC’s dividend payout ratio is currently 6.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FTI. Royal Bank Of Canada boosted their price target on TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Barclays raised their price objective on TechnipFMC from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen downgraded TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group set a $80.00 target price on TechnipFMC in a research note on Wednesday, June 3rd. Finally, Citigroup raised their price target on TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC 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.