Raiffeisen Bank International AG Acquires New Shares in TechnipFMC plc $FTI

Raiffeisen Bank International AG acquired a new position in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 35,831 shares of the oil and gas company’s stock, valued at approximately $2,337,000.

Other large investors have also recently bought and sold shares of the company. Focus Partners Wealth grew its holdings in shares of TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock worth $764,000 after purchasing an additional 5,161 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in TechnipFMC by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 340 shares during the last quarter. Sivia Capital Partners LLC boosted its position in TechnipFMC by 76.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 14,764 shares of the oil and gas company’s stock worth $508,000 after buying an additional 6,381 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in TechnipFMC by 132.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock worth $188,000 after buying an additional 3,105 shares during the period. Finally, Ossiam grew its holdings in TechnipFMC by 52.0% during the 2nd quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 546 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Susquehanna reduced their price objective on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. UBS Group set a $80.00 price objective on TechnipFMC in a report on Wednesday, June 3rd. Weiss Ratings lowered TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, August 27th. Finally, Barclays lifted their target price on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Eric Mullins bought 6,365 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the transaction, the director directly owned 8,070 shares in the company, valued at approximately $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

TechnipFMC Trading Down 0.5%

FTI opened at $79.66 on Friday. TechnipFMC plc has a twelve month low of $35.29 and a twelve month high of $80.70. The company has a fifty day moving average of $73.40 and a 200-day moving average of $70.50. The stock has a market cap of $31.24 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 1.08 and a debt-to-equity ratio of 0.10.

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, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for 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 revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. On average, sell-side analysts predict that TechnipFMC plc will post 3.17 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Tuesday, August 18th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, August 18th. TechnipFMC’s payout ratio 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.