Pitcairn Co. Purchases Shares of 9,249 TechnipFMC plc (NYSE:FTI)

Pitcairn Co. purchased a new stake in shares of TechnipFMC plc (NYSE:FTI) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,249 shares of the oil and gas company’s stock, valued at approximately $232,000.

Several other institutional investors have also added to or reduced their stakes in the company. Inceptionr LLC lifted its position in shares of TechnipFMC by 2.2% in the 4th quarter. Inceptionr LLC now owns 24,612 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 540 shares during the period. Quarry LP lifted its position in shares of TechnipFMC by 76.6% in the 4th quarter. Quarry LP now owns 1,770 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 768 shares during the period. Janney Capital Management LLC increased its stake in shares of TechnipFMC by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 27,688 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 839 shares in the last quarter. Whittier Trust Co. bought a new position in shares of TechnipFMC in the 1st quarter worth about $29,000. Finally, Wallace Advisory Group LLC increased its stake in shares of TechnipFMC by 8.1% in the 1st quarter. Wallace Advisory Group LLC now owns 18,436 shares of the oil and gas company’s stock worth $463,000 after acquiring an additional 1,387 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Insider Activity

In related news, CAO David Light sold 5,928 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $25.81, for a total value of $153,001.68. Following the completion of the sale, the chief accounting officer now directly owns 11,534 shares of the company’s stock, valued at $297,692.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

FTI has been the subject of several research reports. TD Cowen increased their price target on shares of TechnipFMC from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Susquehanna raised their price target on shares of TechnipFMC from $34.00 to $35.00 and gave the company a “positive” rating in a report on Friday. Citigroup raised their price target on shares of TechnipFMC from $31.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays raised their price target on shares of TechnipFMC from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of TechnipFMC in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.62.

TechnipFMC Trading Up 0.8 %

FTI stock opened at $28.60 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. TechnipFMC plc has a twelve month low of $17.36 and a twelve month high of $29.24. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 60.38 and a beta of 1.52. The firm’s fifty day simple moving average is $25.99 and its two-hundred day simple moving average is $24.00.

TechnipFMC (NYSE:FTI) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. TechnipFMC had a net margin of 2.61% and a return on equity of 9.57%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that TechnipFMC plc will post 1.2 earnings per share for the current year.

TechnipFMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, August 20th. TechnipFMC’s dividend payout ratio is currently 42.55%.

TechnipFMC Company Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.