Gallacher Capital Management LLC Invests $604,000 in TechnipFMC plc $FTI

Gallacher Capital Management LLC acquired a new stake in shares of TechnipFMC plc (NYSE:FTI) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,737 shares of the oil and gas company’s stock, valued at approximately $604,000.

A number of other institutional investors have also added to or reduced their stakes in FTI. Focus Partners Wealth increased its stake in TechnipFMC by 27.2% during the first quarter. Focus Partners Wealth now owns 24,120 shares of the oil and gas company’s stock valued at $764,000 after acquiring an additional 5,161 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of TechnipFMC by 45.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 340 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 6,381 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of TechnipFMC by 132.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,449 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 3,105 shares during the period. Finally, Ossiam increased its position in shares of TechnipFMC by 52.0% during the second quarter. Ossiam now owns 1,597 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 546 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FTI shares. Evercore reaffirmed an “outperform” rating and issued a $83.00 target price on shares of TechnipFMC in a research report on Friday, May 1st. Citigroup boosted their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Zacks Research cut shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Barclays raised their price objective on shares of TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. One investment 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, TechnipFMC currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Down 0.4%

FTI opened at $72.01 on Friday. The firm has a market cap of $28.71 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.54 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 1.13. The firm’s 50-day simple moving average is $69.22 and its 200-day simple moving average is $65.10. TechnipFMC plc has a twelve month low of $31.88 and a twelve month high of $77.78.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.52 billion. TechnipFMC had a net margin of 10.62% and a return on equity of 34.06%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. Equities research analysts anticipate that TechnipFMC plc will post 3.01 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Tuesday, May 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is 7.63%.

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.