OMERS ADMINISTRATION Corp Makes New $1.43 Million Investment in TechnipFMC plc $FTI

OMERS ADMINISTRATION Corp purchased a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,564 shares of the oil and gas company’s stock, valued at approximately $1,430,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of TechnipFMC during the 2nd quarter valued at $3,081,514,000. AQR Capital Management LLC increased its stake in TechnipFMC by 26.7% in the 4th quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after buying an additional 3,549,839 shares in the last quarter. State Street Corp raised its holdings in TechnipFMC by 62.2% during the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after acquiring an additional 4,938,498 shares during the period. Invesco Ltd. raised its holdings 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 valued at $502,284,000 after acquiring an additional 4,437,960 shares during the period. Finally, Boston Partners lifted its position in shares of TechnipFMC by 2.0% in the third quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock valued at $389,018,000 after acquiring an additional 192,549 shares in the last quarter. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Trading Up 0.7%

Shares of FTI opened at $75.71 on Thursday. The stock has a market capitalization of $29.69 billion, a PE ratio of 26.29, a P/E/G ratio of 1.54 and a beta of 0.72. The company’s fifty day moving average is $71.62 and its 200 day moving average is $69.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. TechnipFMC plc has a fifty-two week low of $35.29 and a fifty-two week high of $80.55.

TechnipFMC (NYSE:FTI) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.91 EPS for the quarter, beating the consensus estimate 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%. TechnipFMC’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. Sell-side analysts expect 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. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s payout ratio is presently 6.94%.

Insiders Place Their Bets

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

Analyst Ratings Changes

FTI has been the subject of a number of recent analyst reports. Weiss Ratings raised TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. UBS Group set a $80.00 price target on TechnipFMC in a report on Wednesday, June 3rd. Barclays upped their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Evercore restated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. One investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average 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.