Transamerica Financial Advisors LLC Takes $8.43 Million Position in TechnipFMC plc $FTI

Transamerica Financial Advisors LLC acquired a new position in shares of TechnipFMC plc (NYSE:FTI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 127,078 shares of the oil and gas company’s stock, valued at approximately $8,425,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in TechnipFMC in the second quarter valued at $3,081,514,000. State Street Corp increased its stake 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 worth $508,276,000 after acquiring an additional 4,938,498 shares during the last quarter. Norges Bank acquired a new stake in TechnipFMC during the fourth quarter worth about $205,468,000. Invesco Ltd. raised its holdings in shares of TechnipFMC by 64.9% in the 4th 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 during the period. Finally, AQR Capital Management LLC raised its holdings in shares of 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 purchasing an additional 3,549,839 shares during the period. 96.58% of the stock is owned by hedge funds and other institutional investors.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $75.71 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The company has a market capitalization of $29.69 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.54 and a beta of 0.72. The business has a 50-day moving average of $71.62 and a 200-day moving average of $69.70.

TechnipFMC (NYSE:FTI) last announced its earnings results 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. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business posted $0.68 EPS. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that TechnipFMC plc will post 3.09 EPS 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 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 payout ratio is currently 6.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FTI. Evercore reiterated an “outperform” rating and set a $83.00 target price on shares of TechnipFMC in a report on Friday, May 1st. Wall Street Zen lowered shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Finally, Barclays increased 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.64.

Insiders Place Their Bets

In related news, Director Eric D. Mullins bought 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $499,970.75. Following the completion of the purchase, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This represents 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.

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.