Empowered Funds LLC Invests $12.11 Million in TechnipFMC plc $FTI

Empowered Funds LLC acquired a new position in TechnipFMC plc (NYSE:FTI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 182,592 shares of the oil and gas company’s stock, valued at approximately $12,106,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC acquired a new position in shares of TechnipFMC during the 2nd quarter worth about $3,470,000. Chase Investment Counsel Corp bought a new stake in TechnipFMC during the second quarter worth about $12,397,000. Globeflex Capital L P acquired a new position in TechnipFMC during the second quarter valued at approximately $1,011,000. Proficio Capital Partners LLC acquired a new position in TechnipFMC during the second quarter valued at approximately $1,301,000. Finally, Oppenheimer Asset Management Inc. bought a new position in TechnipFMC in the second quarter valued at approximately $8,407,000. Institutional investors own 96.58% of the company’s stock.

TechnipFMC Stock Performance

NYSE:FTI opened at $75.81 on Friday. The stock has a 50 day simple moving average of $72.07 and a 200 day simple moving average of $69.86. The stock has a market cap of $29.73 billion, a P/E ratio of 26.32, a PEG ratio of 1.56 and a beta of 0.72. TechnipFMC plc has a 1-year low of $35.29 and a 1-year high of $80.55. The company has a current ratio of 1.08, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

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

TechnipFMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, August 18th. TechnipFMC’s dividend payout ratio (DPR) is currently 6.94%.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric D. Mullins acquired 6,365 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $499,970.75. Following the purchase, the director directly owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Susquehanna cut their price target on shares of TechnipFMC from $90.00 to $85.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

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.