Navellier & Associates Inc. Acquires 12,517 Shares of TechnipFMC plc $FTI

Navellier & Associates Inc. grew its holdings in shares of TechnipFMC plc (NYSE:FTI) by 13.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,345 shares of the oil and gas company’s stock after purchasing an additional 12,517 shares during the period. Navellier & Associates Inc.’s holdings in TechnipFMC were worth $7,117,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FTI. BlackRock Inc. bought a new stake in shares of TechnipFMC in the second quarter valued at approximately $3,081,514,000. State Street Corp increased its position in shares of TechnipFMC by 62.2% in 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 purchasing an additional 4,938,498 shares during the period. Norges Bank acquired a new position in TechnipFMC in the fourth quarter valued at about $205,468,000. Invesco Ltd. raised its stake in TechnipFMC by 64.9% in 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 purchasing an additional 4,437,960 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in TechnipFMC by 26.7% during the fourth 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 institutional investors.

Insider Transactions at TechnipFMC

In other news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction on Friday, August 14th. The stock was acquired at an average price of $78.55 per share, with a total value of $499,970.75. Following the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

TechnipFMC Price Performance

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

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Research analysts predict that TechnipFMC plc will post 3.09 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The company also recently disclosed 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. 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 Analyst Weigh In

A number of equities research analysts have issued reports on FTI shares. Zacks Research downgraded shares of TechnipFMC from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada increased their price target on shares of TechnipFMC from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Citigroup lifted their price objective on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Jefferies Financial Group restated a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Finally, Weiss Ratings downgraded TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.