Transamerica Financial Advisors LLC Makes New Investment in TechnipFMC plc $FTI

Transamerica Financial Advisors LLC bought a new position in shares of TechnipFMC plc (NYSE:FTI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 127,078 shares of the oil and gas company’s stock, valued at approximately $8,425,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC purchased a new position in shares of TechnipFMC in the second quarter valued at $3,470,000. Chase Investment Counsel Corp purchased a new stake in shares of TechnipFMC in the 2nd quarter worth about $12,397,000. Globeflex Capital L P acquired a new stake in TechnipFMC in the 2nd quarter valued at about $1,011,000. Oppenheimer Asset Management Inc. acquired a new stake in TechnipFMC in the 2nd quarter valued at about $8,407,000. Finally, BankChampaign National Association purchased a new position in TechnipFMC during the 1st quarter valued at about $1,157,000. 96.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on FTI shares. Wall Street Zen downgraded shares of TechnipFMC from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Evercore restated an “outperform” rating and set a $83.00 price objective on shares of TechnipFMC in a research report on Friday, May 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Finally, Barclays raised their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One research 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. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and an average target price of $69.64.

Insiders Place Their Bets

In other TechnipFMC news, Director Eric D. Mullins purchased 6,365 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $78.55 per share, with a total value of $499,970.75. Following the purchase, the director owned 8,070 shares in the company, valued at approximately $633,898.50. This represents a 373.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

TechnipFMC Stock Up 0.7%

FTI stock opened at $75.71 on Thursday. The stock has a market capitalization of $29.69 billion, a P/E ratio of 26.29, a PEG ratio of 1.54 and a beta of 0.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.55. The company has a 50 day moving average price of $71.62 and a two-hundred day moving average price of $69.70.

TechnipFMC (NYSE:FTI) last issued its quarterly 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. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Tuesday, August 18th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is presently 6.94%.

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.