HighTower Advisors LLC Raises Stock Position in TechnipFMC plc $FTI

HighTower Advisors LLC boosted its holdings in shares of TechnipFMC plc (NYSE:FTI) by 14.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,950 shares of the oil and gas company’s stock after purchasing an additional 11,163 shares during the period. HighTower Advisors LLC’s holdings in TechnipFMC were worth $6,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTI. ANB Bank raised its stake in shares of TechnipFMC by 3.4% during the 1st quarter. ANB Bank now owns 4,903 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 161 shares during the last quarter. PFG Investments LLC boosted its stake in shares of TechnipFMC by 2.4% in the first quarter. PFG Investments LLC now owns 7,160 shares of the oil and gas company’s stock worth $495,000 after buying an additional 165 shares during the last quarter. Independent Advisor Alliance boosted its stake in shares of TechnipFMC by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 61,262 shares of the oil and gas company’s stock worth $2,730,000 after buying an additional 184 shares during the last quarter. Evolve Private Wealth LLC grew its holdings in TechnipFMC by 0.7% during the first quarter. Evolve Private Wealth LLC now owns 34,879 shares of the oil and gas company’s stock worth $2,411,000 after acquiring an additional 227 shares during the period. Finally, Caerus Investment Advisors LLC grew its holdings in TechnipFMC by 1.1% during the first quarter. Caerus Investment Advisors LLC now owns 24,025 shares of the oil and gas company’s stock worth $1,661,000 after acquiring an additional 259 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group set a $80.00 target price on shares of TechnipFMC in a report on Wednesday, June 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a report on Wednesday, June 3rd. Citigroup raised their price target on shares of TechnipFMC from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Jefferies Financial Group reiterated a “buy” rating on shares of TechnipFMC in a research report on Sunday, May 31st. Finally, Weiss Ratings lowered shares of TechnipFMC from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, August 27th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Insider Transactions at TechnipFMC

In other news, Director Eric Mullins acquired 6,365 shares of the business’s stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $78.55 per share, for a total transaction 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

TechnipFMC Price Performance

Shares of NYSE FTI opened at $75.56 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 1.08. The firm has a fifty day moving average of $74.36 and a 200 day moving average of $71.00. The firm has a market cap of $29.63 billion, a PE ratio of 26.24, a PEG ratio of 1.55 and a beta of 0.74. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.70.

TechnipFMC (NYSE:FTI) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.67 billion. TechnipFMC had a net margin of 11.28% and a return on equity of 36.54%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. As a group, research analysts predict that TechnipFMC plc will post 3.17 EPS for the current fiscal year.

TechnipFMC Dividend Announcement

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

TechnipFMC Profile

TechnipFMC plc (NYSE: FTI) is an energy technology company that provides systems, products and services for the development and production of oil and natural gas resources. Its business is organized primarily into Subsea and Surface Technologies, serving energy companies, contractors and other customers across the global energy industry.

The Subsea segment designs and delivers integrated offshore production systems, subsea equipment and related services. Its offerings include subsea trees, manifolds, controls, risers, flexible pipe and other technologies used to develop offshore fields.